Delhi based subsidiary of $3.5Billion Welspun group has said in a press release that it has achieved the financial closure of Rs 355 Crores for its 50 MW Solar project, which they are planning to develop in Indian state of Rajasthan.
This 50MW project is the largest project awarded under Jawaharlal Nehru National Solar Mission (JNNSM). The funding will be provided by a group of lenders comprising of infrastructure finance company and 3 public sector banks.
This project is the single largest Solar PV project awarded at the second batch of the JNNSM phase 1, Solar Projects were awarded to 20 bidders in the state of Rajasthan. WEL quoted a weighted average tariff of Rs 8.05 per unit which was one of the lowest quoted at the time.The 50MW project of Weldpun is expected to be completed by end of 2013.
WEL which is one of the largest Independant power producer in India now currently has the Solar operating capacity of 30MW and they are planning to increase their Indian Solar Market by bring about 250 MW of Solar projects all over India.
