SANY Group to invest $3 bn in renewable energy, commits to 'Make in India'

Zee Media Bureau

New Delhi: Sany Group, one of the largest global manufacturing companies of construction equipment, Thursday announced the signing and handover of Green Energy Commitment to PM Modi towards development of 2000 Mega Watt of Renewable Energy Projects with investments of USD 3 Billion (Rs. 20,000 Crores) for the period 2016-20.

Besides generating 4.8 TWh of green and clean power annually, these projects will generate 1000 Jobs and prevent carbon emissions of around 3.6 million tons per year, the company said in a statement.

Sany Group Chairman Mr. Liang Wengen presented the Green Energy Commitment to the Hon’ble Prime Minister of India Shri Narendra Modi.

As per the statement, the company will establish efficient technologies for Off-Shore Wind Power Generation and bring in its relevant expertise, operational excellence and global best practices for development of Renewable Energy in India.

Currently, the company employs about 30000 people globally and 269 people across India.

The company entered the 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.

Commenting on the announcement, Mr. Liang Wengen, Chairman of the Board, SANY Group, 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 & potential for future investment. We believe that the agreement signing with Indian new energy enterprise will boost the mutual cooperation to a new height.”

Mr. Amitabh Kant, Secretary, Department of Industrial Policy and Promotion (DIPP), Ministry of Commerce & Industry, Government of India, 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.”