ReNew Energy Global and Engineers India are among the Indian companies moving ahead with energy projects in Africa and the Middle East amid rising demand in those regions.
State energy consultant Engineers India expects to finalize a nearly $25 million order for a chemical and fertilizer plant in Nigeria, and is actively reviewing opportunities in oil refining projects across Africa, the chairman said . Vartika Shukla he told Bloomberg Television in an interview in Bangalore.
ReNew Energy, among India’s largest renewable energy companies, expects to complete feasibility studies for an $8 billion green hydrogen project in Egypt and finalize a customer in 12 to 18 months.
The company is also looking at prospects for producing green hydrogen and methanol in countries such as Oman, Morocco and Saudi Arabia, ReNew’s president said. Sumant Sinha he said Tuesday in a separate Bloomberg TV interview.
Rising energy demand in Africa and the Middle East is opening up new potential markets, while the regions also have opportunities to export energy to Europe as the continent curbs reliance on Russian fuels. Adani Green Energy, the embattled tycoon’s clean energy arm Gautam Adani, is considering a 10 GW project in Morocco that would aim to tap European markets.
prime minister Narendra Modi’The government is also looking to expand India’s energy diplomacy with Africa by helping to expand access to electricity, an issue it will champion during its G20 presidency this year.
