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China Tycoons to Invest $5 Billion in Indian Renewable Power

  • Sany Group plans 2,000 megawatts of capacity by 2020
  • Chint Group targets $2 billion investment in solar power
An employee inspects solar panels in the village of Dharnai in India.

An employee inspects solar panels in the village of Dharnai in India.

Photographer: Prashanth Vishwanathan/Bloomberg
Updated on

Chinese tycoons Liang Wengen and Nan Cunhui plan to pour $5 billion into India’s renewable power sector as Prime Minister Narendra Modi seeks a major expansion of clean energy in one of the world’s biggest polluters.

Liang’s Sany Group will install 2,000 megawatts of capacity and generate 1,000 jobs from 2016 to 2020 at a cost of $3 billion, a statement released at a briefing in New Delhi on Thursday showed. Chint Group Chairman Nan said at the same event that his company will invest $2 billion in solar power and equipment.