Amidst market rumours of possible a stake sale, Welpsun Renewables announced that it has commissioned its largest wind energy project so far, commissioning a 126 MW wind energy project in the Pratapgarh district of the western state of Rajasthan.
According to the company, the project is expected to generate 290 million kWh electricity every year, offsetting greenhouse gas emissions equivalent to over 2.1 million tonnes of carbon dioxide, and was commissioned at a total cost of Rs 840 crore.
Welspun now has an operational capacity of 700 MW capacity across India, including India’s largest solar power project, the 151 MW (DC) located in the state of Madhya Pradesh. GE Energy Financial Services had invested in the project, picking up an equity stake.
Over the next five to seven years, Welspun Renewables plans to add 11 GW worth of renewable energy capacity, including 8.66 GW of solar power and 2.34 GW wind energy capacity. The company has signed an agreement with the state government of Gujarat to install 1.1 GW of renewable energy capacity, including 500 MW of wind energy capacity and 600 MW of solar energy capacity.
Welspun Renewables is part of the Welspun Group which has been in the news lately. As per a number of media reports, Welspun Group may be planning to sell the renewable energy business or a part of it. Some of it competitors have been named as the possible buyers. The company, however, has denied such reports.