Engie India investment: €3 billion plan to reach 7 GW by 2030
French energy company Engie plans to invest about €3 billion in India to take its portfolio from around 2 GW to 7 GW by 2030. CEO Catherine MacGregor outlined the plan in an interview with The Economic Times, published on 18 October 2026.
The portfolio covers projects under construction and in operation. To reach the target, Engie says it needs to add roughly 1 GW a year on average. The focus is new renewable energy projects and storage, and the interview also points to emerging opportunities in data centres.
The financing is not settled. MacGregor said it could be a combination of debt and equity, "which is being worked out right now." Engie has also applied to set up a treasury operation at GIFT City in Gujarat, which she said would help facilitate financing of its projects.
Engie operates across several energy businesses globally, with France, the UK, Belgium and Brazil among its large markets.
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In India it is building its execution capabilities across engineering, construction, operations and maintenance, including in-house capabilities. India is currently among its medium-sized markets.
Engie says it wants to move India into its group of leading markets, and that adding 1 GW a year in India is significant compared with its global annual additions.
MacGregor named grid connectivity as a bottleneck, saying projects are sometimes ready but waiting for connectivity. She also cited land access, and said congestion during solar generation hours is not very significant in Engie's case.
She pointed to solar combined with battery energy storage systems and the government's push towards storage, which allow electricity supply to be spread across different periods of the day and can help alleviate grid bottlenecks. Engie says it is also always open to inorganic opportunities.
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