Technip Energies strategic expansion in India

Technip Energies strategic expansion in India

By Anna Peverieri

November 21, 20249:24 PM GMT+5:30Updated 17 hours ago

Nov 21 (Reuters) - France's Technip Energies (TE.PA), opens new tab announced strategic expansion plans for India on Thursday, saying it would launch a new R&D laboratory in the country in 2025.

The group, which specialises in engineering and technology for the energy industry, plans to launch the new lab in Chennai to expand its research and development footprint, its Chief Operating Officer Loïc Chapuis said at a capital markets day.

The group also announced plans to open a new office in Ahmedabad, expanding into the city for the first time, in a move to bolster its staff resources.

"India is strategic for the group," the company told Reuters. Technip Energies has been operating in India for more than five decades. It employs around 4,100 people, which represent 24% of its global workforce.

India, the world's third-largest emitter of greenhouse gases, aims, opens new tab to ramp up non-fossil fuel capacity by 50 GW a year to help meet its 500 GW target by 2030 and over 600 GW by 2032.

Significant enhancements are planned for the Dahej manufacturing facility, a cornerstone of Technip Energies' operations in India. The expansion includes the construction of a new captive jetty, expected to be operational by the second quarter of 2025, and the development of additional land and facilities scheduled for 2025-26.

Technip Energies is also establishing a "Green H2 & Power-to-X" centre in Delhi, which will target the prospective market for green molecules, encompassing projects, operations, and post-market services.

In India, company's operations are mostly focused on downstream projects. However, the group told Reuters it foresees "a prospective market for green molecules," mentioning green hydrogen and green ammonia.