Welspun Energy, part of the diversified $3-billion Welspun Group has attained financial closure for a 20-MW wind energy project in Rajasthan. The project has received sanction of Rs 120-crore debt against a required Rs 88 crore, which includes a fully underwritten offer for the debt from a leading national financial institution. The company plans to fund the project through 75% debt and 25% equity.
The entity’s subsidiary- Welspun Energy Solar Rajasthan, which is likely to put up the project, has signed a power purchase agreement with the State-run Rajasthan Renewable Energy Corporation. It plans to power over 1.15 lakh households.
