India’s Welspun Renewables has received US$617 million in funding through a combination of debt and equity infusion by the promoters, existing and new investors.
“WREPL’s power plants are among the highest generating projects in the country and have been built ahead of committed timelines – thanks to our superior EPC capabilities,” said Vineet Mittal, Vice Chairman Welspun Renewables. “Being the leaders in this space, we have been setting benchmarks for the entire industry to follow. These deals continue to prove that renewable energy sector is a preferred investment choice and global players are willing to commit to help grow the industry. Just last year, two of the biggest international names – The Asian Development Bank and General Electric made significant investments in our operations. We are grateful for the support”.
Welspun has a target of 5 gigawatts of renewable capacity, with 1GW to be commissioned within this financial year. At present the organization’s solar and wind projects are spread across eight different states in the country.