Loss-making European power utilities are turning to India for investment opportunities in renewable energy (RE), drawn by the country's impressive drive in the latter.
Engie of France, one of the biggest European power companies, which lost about $40 billion over 2010-16 on its fossil fuel and nuclear holdings, intends to invest $1 billion in Indian solar energy over the next five years, says a report from the US-based Institute for Energy Economics & Financial Analysis (IEEFA). Engie is also exploring opportunities in Indian wind power.
In Europe, the growing appeal of RE has pulled down wholesale electricity rates. This has
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