Day one of the Vibrant Gujarat Summit had witnessed streaming investments from big global renewable energy firms.
Welspun Renewables has announced an investment of Rs 8,300 crore to launch 1,000 MW of solar and wind portfolio in Gujarat, according to a report from Economic Times.
Welspun has committed to establish 500 MW wind and 600 MW solar capacities with Gujarat Urja Vikas Nigam (GUVNL).
“An investment of Rs 8,300 crore is sufficient to develop over 1 GW capacities in Gujarat,” the company said in a statement.
Welspun Renewables had begun their first clean energy project from Gujarat.
Due to investor-friendly environment and favorable climatic conditions Gujarat is the prime choice of many global as well as domestic investors to introduce various projects.
Till date, Welspun Renewables has commissioned 308 MW solar capacities.
The company already runs a number of renewable energy projects in Rajasthan, Madhya Pradesh, Maharashtra, Andhra Pradesh, Tamil Nadu and Punjab.
In addition, Adani Enterprises and SunEdison had announced an investment of Rs 25,000 crore to set up a solar park in Gujarat.
Sabeena Wahid
editor@greentechlead.com