French power major EDF plans $2 billion green bet on India

French state-run power major EDF will invest heavily in renewable energy in India, with projects worth $2 billion in the pipeline, and is bullish about the sector, where it sees electricity tariffs falling 30% in five years, EDF Energies CEO Antoine Cahuzac told ET.

India is among the few countries EDF has chosen for a significant expansion of its global portfolio of renewable energy because the country has a huge demand potential, power scarcity and “fantastic” quality of wind and solar radiation, Cahuzac said.

EDF is also interested in nuclear energy, for which it has initial agreements with Nuclear Power Corp, but regulatory issues are still under discussion, he said. EDF also has interest in hydropower generation in India and is looking at a few prospects, he said. Read More…