China`s Sany to invest Rs 20K Cr in Indian renewable energy sector

China`s construction equipment manufacturer Sany Group expressed commitment  towards development of 2,000 MW of renewable energy projects with investments of Rs 20,000 crores for the period 2016-20.
“Besides generating 4.8 TWh of green and clean power annually these projects are expected to generate around 1,000 jobs and prevent carbon emissions of around 3.6 million tonnes per year,” a statement issued by the company said. “Sany will establish efficient technologies for off-shore wind power generation.”
Sany Group Chairman Liang Wengen presented the Green Energy Commitment to the Prime Minister Narendra Modi.
Commenting on the announcement, Wengen said, “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 and potential for future investment. We believe that the agreement signing with Indian new energy enterprise will boost the mutual cooperation to a new height.”
Amitabh Kant, Secretary, Department of Industrial Policy and Promotion (DIPP), Ministry of Commerce & Industry, said, “We are keen on seeing China investing more in India, especially in the manufacturing sector and partnering with India to make India a world class manufacturing base for production. This initiative is yet another step towards the `Make in India` drive launched by our Prime Minister and we welcome Sany and the delegation and look forward to working closely with them to strengthen the bond between the two countries.”
Currently, Sany employs about 30,000 people globally and 269 people across India. Sany Group entered India market in 2002 and established a manufacturing plant in 2009 in Chakan, Pune. In India, the company operates in excavator, cranes, concrete machinery, port machinery, road and renewable energy businesses.