INDIA
CALABRIA

Supporting India’s energy transition

In 2018, STOA joined forces with the French group Engie to create a platform for wind energy projects in India. Named “Calabria”, the project offers a competitive, carbon-free solution to reduce the average price of energy produced in the country.

 

The project

Since July 2018, STOA and the French group Engie have been working together to build a platform for wind energy projects in India. Developed within the framework of a joint venture equally owned by the two entities, it hosts onshore projects carried out via regional and national auctions.

 

What’s at stake

Three projects have already won tenders launched by the State of Gujarat and Solar Energy Corporation of India (SECI), a state-owned company controlled by India’s Ministry of New and Renewable Energy. These projects account for a total capacity of 280 MW. By the end of 2019, 80 MW had already been installed, including 30 in Gujarat and 50 in the state of Tamil Nadu. In time, 700 MW is expected to be installed in the country.

Through this project, STOA is helping to reduce the average price of electricity in India and strengthen the country’s energy independence. This is a vital contribution at a time when the demand for energy is growing. The Calabria project will ultimately meet the needs of nearly 2.3 million people each year.

Supporting the low-carbon transition

India relies heavily on coal to meet its energy needs, but STOA’s work with Engie is helping to decarbonize the electricity mix and contribute to meeting the country’s commitments under the Paris Agreement. The project will prevent the emission of 2 million tons of CO2 each year. It thus contributes to STOA’s objective of allocating 30% of its funds to climate co-benefit projects and promoting the sustainable development of emerging Asian countries.

 

Expected results
  • 700 MW of additional wind power
  • Production equivalent to the consumption of 2 284 000 inhabitants
  • 2 M tCO2 avoided / year[1]
Impact results measured in 2019
  • First 80 MW installed
  • 17,658 direct and indirect jobs supported [2]



[1] Cf note 1

[2] Impact modélisé (voir notre rapport ESG et Impact en page 8). Consulter notre disclosure statement : www.impactprinciples.org/signatories-reporting

 

” India’s renewable energy sector is experiencing strong growth, and demand for electricity is set to continue to rise. Wind power now offers a competitive solution to reduce the average price of energy. “

Matthew Saville, Managing Director – STOA

Expected results

700

MW OF ADDITIONAL WIND POWER

2

MTEQ CO2 AVOIDED / YEAR 

PORTFOLIO

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