Welspun India’s business arm - Welspun Energy (WEL), India’s biggest developer of solar projects has received financial closure of Rs 48.75 crore for its Karnataka solar project from financial institutions.
The 7 MW project is located in Chitradurga district and will cost Rs 65 crore. The project is being developed by the firm’s subsidiary Welspun Solar Kannada under the Karnataka State Policy.
The project will be funded in 75:25 debt-equity ratio. For the debt part, the company obtained Rs 48.75 crore investment from leading financial institutions.
