Friday, January 30, 2015

Welspun Renewables to invest Rs 8,300 crore in Gujarat

GANDHINAGAR: Welspun Renewables today announced an investment of Rs 8,300 crore to set up about 1,000 MW solar and wind capacities in Gujarat.

At the Vibrant Gujarat Summit here, Welspun Renewables committed to set up 500 MW wind and 600 MW solar capacities with Gujarat Urja Vikas Nigam (GUVNL).
"An investment of Rs 8,300 crore will be poured to develop over 1 GW capacities in Gujarat. The IPP (Independent Power Producer) made these commitments during the first day of the Vibrant Gujarat summit," the company said in a statement.
The IPP signed 500 MW wind and 600 MW solar MoUs on the first day of the Summit.
Vice Chairman of Welspun Renewables, Vineet Mittal said the company started its journey with Gujarat by commissioning its first clean energy project in Anjar.
"Gujarat has always been our natural choice in building projects not just for conducive climatic conditions but because of its investor-friendly environment," Mittal added.
Welspun Renewables has commissioned 308 MW solar capacities so far.
The organisation envisions developing power projects across the country with existing projects located in other high radiation zones like Gujarat, Rajasthan, Madhya Pradesh, Maharashtra, Andhra Pradesh, Tamil Nadu and Punjab, the statement added.

Source: India Times

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