The funding is a combination of debt and equity infusion by the promoters, existing and new investors. The company received $405m in debt, $47m in line of credit, and $165m in equity investments.
This follows investments from the Asian Development Bank and General Electric in the company’s operations last year.
Welspun Renewables vice chairman Vineet Mittal said: "WREPL’s power plants are among the highest generating projects in the country and have been built ahead of committed timelines – thanks to our superior EPC capabilities.
"Being the leaders in this space, we have been setting benchmarks for the entire industry to follow.
"These deals continue to prove that renewable energy sector is a preferred investment choice and global players are willing to commit to help grow the industry."
Welspun Renewables plans to set up renewable energy projects with a total installed capacity of around 5GW, of which 1GW will be commissioned within this financial year.
Currently, the company operates solar and wind projects in eight different states in the country.
To date, Welspun generated over 1.375 billion units of clean energy and mitigated 1.2 million tons of CO2 emissions in the country.
The company recently inaugurated a solar power project in the state of Punjab.
