India's Largest Solar Project developer, Welspun Energy has announced that it has finalized funds of $160 Million for 130 MW Solar PV project.
A Consortium led by Central Bank of India, will provide the funding for the Project which is being developed in Mandsuar district of Madhya Pradesh. This 130MW Solar PV Project is expected to feed power to the grid by May next year. The Project will help power 660,000 average Indian homes and will reduce Carbon emissions by 229,550 tonnes. Also Welspun will sell the Power at Rs 8.05 per unit.
"The closure of the financial agreements indicates the confidence that financial partners' have in our execution capabilities and expertise to complete the project in time." said Vineet Mittal, co-founder & Managing Director of Welspun Energy.
Welspun Energy (link) has more than 300 MW of clean energy project in construction, of which 111 MW are operating and the rest are under construction. It aims to commission 1.75 GW of solar and wind projects over the next few years.
