ENGIE, a global leader in low-carbon energy solutions, has achieved financial closure and officially broken ground on the 250 MW Khaba Solar Project in the Barmer district of Rajasthan. Developed through Khaba Renewable Energy Private Limited, a wholly owned subsidiary of ENGIE, the project marks the company’s eighth renewable energy venture in the state and serves as a cornerstone in its strategy to accelerate India’s clean energy transition.
Financial Closure and Strategic Backing
The project developer, in coordination with other participating ENGIE India entities, has secured a Rupee Term Loan facility aggregating to approximately INR 982 crore. This strategic financing was provided by a consortium of premier global financial institutions, including MUFG Bank, Crédit Agricole Corporate and Investment Bank, and BNP Paribas.
Legal counsel for the financing was provided by Shardul Amarchand Mangaldas & Co. (SAM). The successful closure of this facility reflects continued investor confidence in ENGIE’s execution excellence and the long-term viability of India’s renewable infrastructure sector.
Project Specifications and Technical Scope
The Khaba Solar Project is designed as a high-capacity facility with the following technical parameters:
- Capacity: 250 MW.
- Expected Annual Generation: Approximately 650 GWh of clean electricity.
- Location: Barmer district, Rajasthan.
- Regional Footprint: This is ENGIE’s eighth renewable project in Rajasthan.
Timeline and Environmental Impact
Construction has officially broken ground, with a target completion date set for the third quarter (Q3) of 2026. Once operational, the project is expected to offset nearly 180 kilotonnes of carbon dioxide (CO₂) emissions annually. This development is a significant milestone toward ENGIE’s global commitment to reaching “Net Zero Carbon” by 2045.
Local Socioeconomic and Regional Impact
The project is structured to ensure inclusive growth and regional economic development. During the construction phase, ENGIE has implemented a local hiring strategy with a target of 80% of recruitment coming from nearby local communities. This focus on local participation ensures that the socioeconomic benefits of the infrastructure investment remain rooted within the surrounding region.
Corporate Context: ENGIE India’s Portfolio
The commencement of the Khaba project signals a period of transformative expansion for ENGIE in the Indian market. The company currently manages a renewable portfolio of 2.3 GW across 22 strategically located sites. This footprint is set for a massive scaling as ENGIE executes a strategic capital deployment of up to €4 billion, aimed at tripling its capacity to 7 GW by 2030. This multi-billion euro push reinforces the company’s position as a major contributor to India’s non-fossil fuel targets.
Official Statements
In an announcement released in July 2026, Amit Jain, CEO and Country Manager India, and Managing Director Renewables & Batteries SEA at ENGIE, emphasized the strategic importance of the milestone:
“The next phase of India’s energy transition will be defined by the ability to translate ambitious targets into high-quality infrastructure at scale. The financial closure of the Khaba Solar Project marks another important step in that journey and reflects ENGIE’s confidence in India’s long-term renewable energy growth story. We remain focused on delivering projects that combine execution excellence with operational reliability, while creating long-term value for customers, local communities and the broader energy ecosystem.”
Official Project Sources
- ENGIE India Official Press Release: ENGIE Achieves Financial Closure for 250 MW Khaba Solar Project in Rajasthan
- Shardul Amarchand Mangaldas & Co. (Legal Counsel): Shardul Amarchand Mangaldas advises Khaba Renewable Energy on ~INR 982 crore Financing for 250 MW Solar Project in Rajasthan
- Waaree Energies Ltd. (Module Supplier): Waaree Energies Secures Major Order of 362.5 MW from Khaba Renewable Energy Pvt Ltd. (Engie India)
Leave a Comment