Welspun Renewables Energy Ltd is set to construct a 100 MW solar power plant in Chhattisgarh, India. The company is supported by the textiles-to-infrastructure conglomerate Welspun Group.
The firm will invest Rs 10 billion in the project, reports Wall Street Journal. It means that the company will provide $1.83 per watt of the project cost. According to the report, Vineet Mittal, co-founder, Welspun Renewables Energy Ltd, said, “Welspun Renewables Energy Ltd will secure necessary loans to partly fund the project.” He said that the state government will facilitate the project by approving it and acquiring land for the project.
The firm will be building a solar plant with 750 MW of solar power generating capacity in a couple of years in India. Also, it is looking forward to construct 1,000 MW of wind power generation capacity in the same period. It is worth mentioning here that Welspun Group, which has its corporate office in New Delhi, aims to develop 1.7 GW of wind and solar power projects in the next three years. With a focus on green technologies and triple bottom-line, Welspun Energy is interweaving inclusive growth, social, economic and environmental sustenance in its projects, to provide sustainable energy for all by year 2030.