Welspun Renewables Limited, a leading Indian renewable energy projects developer, has signed an agreement with Japan-based Solar Frontier for solar PV modules.
Welspun Renewables will procure 100 MW of CIGS (Copper Indium Gallium Selenide) solar PV modules, the company announced last week, but did not indicate as to where these modules would be used, as it has several large-scale solar PV projects in the pipeline.
Welspun has a large footprint in the Indian solar and wind energy sectors. The company plans to install 1 GW of solar and wind energy capacity this year. It has been aggressively participating in solar power project auctions organised by several state governments, and in one such auction the company secured the bid to develop the country’s largest solar PV project — the 151 MW power plant is operational in Madhya Pradesh.
Some of the major deals the company has signed this year include power purchase agreements with two southern states to develop 100 MW solar PV power capacity each. Welspun Renewables has commissioned over 366 MW solar and wind power projects and another 978 MW capacities are currently under construction.
Long-term investment commitments are even more ambitious. In January, the company signed agreements with the state government of Gujarat to set up 600 MW of solar power and 500 MW of wind power capacity. This capacity expansion would require a total investment of over $1.2 billion.
At the RE-INVEST global investors summit organised by the Ministry of New & Renewable Energy in February, the company committed to set up 8.66 GW of solar power and 2.34 GW of wind energy capacity all over the country over the next 5 to 7 years.
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