French electric utility company Électricité de France (EDF) expects India to play an important role in its global strategy of becoming carbon neutral by 2050. It is in the process of scaling up solar and wind power generation capacity in India to 2 gigawatts by 2022 and is scouting for acquisition opportunities in hydro power, EDF’s India head told ET.
EDF has an ambitious target of doubling renewable installed capacity worldwide by 2030 to 50 GW and has identified renewable energy, smart metering, smart cities, transmission and distribution, and nuclear power as key growth areas in India.
“We are open to solar and wind acquisitions, if they match our group’s philosophy, and are technically and commercially sound. We are also looking for brownfield acquisition in hydro power now.