GDF SUEZ invests in Meenakshi Power Project, India
GDF SUEZ is pleased to announce that it has invested in a thermal project in Andhra Pradesh, India, in which the Group has a 74% equity share, with Meenakshi Energy and Infrastructure Holdings Pvt Ltd1 (the seller) retaining 26%. The Meenakshi project comprises 300 MW of operational capacity and 700 MW under construction.
This initial project in India is in line with the Group’s strategy of investing in fast growing markets and gives the Group an entry point into the Indian power sector through an economically attractive State. India has a growing demand for energy and a significant power supply deficit.
GDF SUEZ has long lasting presence in India. The Group has a 10% share as strategic partner and shareholder in Petronet, the LNG importer and terminal operator. GDF SUEZ is also currently developing with GAIL a floating LNG regasification terminal with a capacity of 3.5 million tons per year (MTPA), located in Kakinada, in the state of Andhra Pradesh. Through Tractebel Engineering, the company recently acquired Cethar Consulting Engineers, which provides support to the Meenakshi project.
1 Indian entity, part of the Meenakshi Group, main player in the Indian Infrastructure sector
GDF SUEZ develops its businesses (power, natural gas, energy services) around a model based on responsible growth to take up today’s major energy and environmental challenges: meeting energy needs, ensuring the security of supply, fighting against climate change and maximizing the use of resources. The Group provides highly efficient and innovative solutions to individuals, cities and businesses by relying on diversified gas-supply sources, flexible and low-emission power generation as well as unique expertise in four key sectors: independent power production, liquefied natural gas, renewable energy and energy efficiency services.GDF SUEZ employs 138,200 people worldwide and achieved revenues of €82 billion in 2012. The Group is listed on the Paris, Brussels and Luxembourg stock exchanges and is represented in the main international indices: CAC 40, BEL 20, DJ Euro Stoxx 50, Euronext 100, FTSE Eurotop 100, MSCI Europe and Euronext Vigeo (World 120, Eurozone 120, Europe 120 and France 20).