Chinese construction company Sany Group plans to invest US$3 billion over a five-year period in renewable energy projects in India, according to media reports.
The group is targeting at least 2 gigawatts of capacity, with a focus on offshore wind projects.
“This investment is a significant step in deepening Sany Group’s presence and commitment to India. Green energy industry in India is growing and we see this as a huge opportunity to introduce our wind energy business in the country. We have invested in a potential market like India, and are excited about the future growth & potential for future investment. We believe that the agreement signing with Indian new energy enterprise will boost the mutual cooperation to a new height,” Liang Wengen, Chairman, of Sany Group was quoted as saying.