Welspun India’s business arm - Welspun Energy (WEL), the country’s biggest developer of solar projects, has secured 32 MW of solar project from Punjab Energy Development Agency (PEDA). The company has bagged the said order through a single stage competitive bidding and the project is expected to be commissioned during the second quarter of 2014.
Recently, the company 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.
Welspun Energy currently has built up more than 300 MW clean energy capacity on-ground, of this 111 MW clean energy projects are operational. With the recent spate of projects, the clean energy generator is well on its way of reaching 1.75 GW capacity target.