A 100 MW solar power plant is to be constructed in the state of Chhattisgarh, India by Welspun Renewables Energy Ltd, which is backed by the textiles-to-infrastructure conglomerate Welspun Group.
Welspun, the Wall Street Journal reports, will partly fund it with 10 billion rupees, or $183 million USD. This means that it is providing $1.83 USD per watt of the project cost.
Vineet Mittal, the co-founder of Welspun Renewables Energy Ltd, said that the company will secure the necessary loans to partly fund the project. The state government will facilitate the project by approving it and acquiring land for it.
Welspun plants to build a total of 750 MW of solar power generating capacity in India in the next few years. It also intends to build 1,000 MW of wind power generation capacity during the same period.
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