Welspun said that the entire project cost has been funded on a 75:25 debt equity ratio.
Rajasthan Renewable Energy will purchase the power generated at the solar plant, under a Power Purchase Agreement with the company’s subsidiary Welspun Energy Solar Rajasthan.
This solar facility will generate clean electricity to power around 115,200 million households.
Commenting on the transaction, Welspun Energy co-founder & managing director Vineet Mittal said India has a large untapped potential and the country can overcome the power shortage by generating power using clean energy resources.
Currently, Welspun Energy has built up clean energy projects with a total installed capacity of around 300MW, of which 111MW are commissioned and the rest are under construction.
