NEW YORK--(BUSINESS WIRE)--Welspun Renewables, India’s leading renewable energy generator, has received another round of funding of USD $617 million. The investment has been through a combination of debt and equity infusion by the promoters, existing and new investors. With this, we move one step closer towards delivering on our Honourable Prime Minister’s green energy vision and helping India take pole position globally in the renewable energy space.
Mr. Vineet Mittal, Vice Chairman Welspun Renewables said, “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. 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”.
The organization is committed to setting up 5 GW capacities and of this 1 GW will be commissioned well within this financial year. At present the organization’s solar and wind projects are spread across 8 different states in the country. Till date through its clean energy projects Welspun Renewables has generated over 1.375 billion units of clean energy and mitigated 1.2 million tons of CO2 emissions.
About Welspun Renewables: (www.welspunrenewables.com)
Welspun Renewables is a leading independent developer of renewable energy projects. In line with Honorable Prime Minister Mr. Narendra Modi’s 175 GW renewable vision, we are committed to establishing 11001 MW of renewable capacities across the country. Within a short span, the clean energy generator has pioneered solar power solutions, both in terms of plant size and total installed capacity. Its power plants are among the highest generating projects in the country and have been built ahead of committed timelines, thereby helping the country meet its renewable energy targets. Welspun Renewables holds the distinction of winning and operating one of the world’s largest solar projects of 151 MW (DC). Through its strong commitment to triple bottom line, Welspun Renewables is working for underserved communities in area of education, empowerment & healthcare. Through its projects Welspun Renewables has mitigated approximately 1.2 million tons of CO2 emissions till date.
The information in this release has been included in good faith and is for general purposes only. It should not be relied upon for any specific purpose and no representation or warranty is given as regards to its accuracy or completeness. No information in this press release shall constitute an invitation to invest in Welspun Renewables or any of its affiliates. Neither Welspun Renewables, nor their or their affiliates' officers, employees or agents shall be liable for any loss, damage or expense arising out of any action taken on the basis of this press release, including, without limitation, any loss of profit, indirect, incidental or consequential loss.