Welspun Energy Finds Funds for Jaisalmer Wind Project

Welspun Energy today said it has been sanctioned Rs 120 crore loan for its 20 MW wind power project at Jaisalmer in Rajasthan. The company has received a sanction exceeding Rs 120 crore as against a debt requirement of Rs 88 crore. The entire project cost has been funded on a 75:25 debt equity ratio.

Welspun Energy Solar Rajasthan is a fully owned subsidiary of the company had signed a Power Purchase Agreement (PPA) with the Rajasthan Renewable Energy Corporation. Rajasthan has tremendous renewable energy potential, and through this project Welspun Energy is expecting to power over 1,15,200 households.

“India has a large untapped potential for wind energy and we believe harnessing clean energy resources will bridge the power shortage. The Rajasthan 20 MW project is the first of many milestones that we will be announcing shortly,” said Vineet Mittal, Co-Founder & Managing Director, Welspun Energy.

Earlier this year, Welspun Energy had commissioned India’s largest solar project of 55 MW in Jodhpur district. Welspun Energy has built up more than 300 MW clean energy capacity on-ground, of this 111 MW are commissioned and the rest under construction. The company aims to commission 1,75,000 MW of solar and wind projects.