Welspun Renewables has signed two Memorandum of Understandings (MoUs) for the development of 500 MW Wind & 600 MW Solar capacities with Gujarat Urja Vikas Nigam (GUVNL), an electrical services umbrella company in the state of Gujarat, India.
The total investment is estimated at Rs8.3 billion (US$134.4 million).
Mittal, Vice Chairman Welspun Renewables stated:
“We are deeply honored to the state of Gujarat for once again placing their trust in us. Welspun Renewables 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.”
In line with Prime Minister Narendra Modiji’s vision the state is the energy Hub of the country. Chief Minister Smt. Anandiben Patel has recently been encouraging both national and global investors to invest in the state.
Welspun Renewables has commissioned mega solar capacities so far and is aggressively working to build its wind portfolio. The organization envisions developing power projects pan India, with existing projects located in other high radiation zones like Gujarat, Rajasthan, Madhya Pradesh, Maharashtra, Andhra Pradesh, Tamil Nadu and Punjab.