Welspun Energy has announced during the last months that it has tied-up financing for two solar projects and for a wind project. The three projects sum up an investment of around US$233 million. See below more information about the projects provided by Welspun Energy in different press releases:20 MW Jaisalmer wind based power project (Rajasthan)

On May 16th, Welspun Energy Ltd. announced its expansion into wind energy by achieving financial closure of its 20 MW Jaisalmer based power project. The company has received a sanction exceeding INR 1.2 billion  (US$200 million) as against a debt requirement of INR 880 million. This also includes fully underwritten offer for the entire debt amount from a leading national financial institution. Entire project cost has been funded on a 75:25 debt equity ratio.

Welspun Energy Solar Rajasthan Pvt. Ltd., a fully owned subsidiary of the company had signed a Power Purchase Agreement (PPA) with the Rajasthan Renewable Energy Corporation Ltd. The state of Rajasthan has tremendous renewable energy potential and through this project Welspun Energy is expecting to power over 115,200 million households.

Source: Welspun Energy PR20 MW solar power project in Solapur (Maharashtra)

On June 20, 2013, Welspun Energy Ltd. (WEL) announced it had successfully achieved financial closure of its upcoming 20 MW solar project in Maharashtra. Leading financial institutions have committed to a long term project funding of Rs. 135 crore  (US$22.5 million), with Debt & Equity elements sourced in a ratio of 75:25.

India's leading IPP (Independent Power Producers), through its step down subsidiary Welspun Energy Maharashtra Pvt. Ltd (WEMPL) is setting up this project in Solapur; a region which is one of the highest radiation receiving districts in Maharashtra. WEL had signed an MoU with Brihan Mumbai Electric Supply & Transport Undertaking (BEST) for supplying green energy to Mumbai city. With its commissioning, 28 million units of clean & efficient solar energy will be supplied to BEST annually.

This project will address Maharashtra's annual peak deficit of 14.8% and will generate enough energy to power 96,000 households and mitigating 33,282 tons of carbon emissions annually. This will be the first project executed by WEL in the state of Maharashtra.

Souurce: Welspun Energy PR

7 MW Karnataka solar power project located in Chitradurga (Karnataka)

Yesterday, Welspun Energy Ltd. announced it has obtained INR 48.75 crore investment from leading financial institution. Project cost of INR 65 crore (US$11 million) has been sourced in a Debt - Equity ratio of 75:25. The 7 MW Karnataka project located in Chitradurga district, is being developed by WEL's step down subsidiary Welspun Solar Kannada Pvt. Ltd. under the Karnataka State Policy.

On ground work for the project is already in progress. As per the PPA signed with Mangalore Electric Supply Company (MESCOM) the power plant needs to begin commercial operations by March 2014. Keeping with its execution track recorder, WEL will commission this project well before the timeline.

Source: Welspun Energy PR