Welspun Renewables has signed a deal for Rs 700 crore investments in Indian solar asset.
During the World Economic Forum (WEF), the agreement was signed for setting up 100.1 MW of solar PV project in Andhra Pradesh.
Vineet Mittal, vice chairman of Welspun made this commitment in the presence of chief minister of Andhra Pradesh N. Chandrababu Naidu, during AP Investment Session.
Welspun Renewables will leverage its technical expertise for establishing these solar projects for the state.
The company wants to extend its green footprint in Andhra Pradesh by setting up a mega solar project.
So far, Welspun Renewables has commissioned over 366 MW solar and wind power projects and another 978 MW capacities are under construction.
The company has plans to develop various solar projects across India.
During Vibrant Gujarat Summit, Welspun made an investment of Rs 8,300 crore to launch 1,000 MW of solar and wind portfolio in Gujarat.
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In August 2014, Welspun revealed its plans to invest Rs 15,000 crore in India over the next three years, with fresh investments in solar space, focused on Andhra Pradesh, Maharashtra, Punjab and Rajasthan.
In December 2014, Welspun entered into the large-scale solar rooftop sector, by completing the construction of three projects located in Uttar Pradesh and Haryana in record time.
With a growing capacity of 795 KW, Welspun is trying to reduce the carbon footprint through the generation of around 1,174,000 kWh of clean energy every year.
Sabeena Wahid
editor@greentechlead.com