Welspun lines up funding for India’s largest solar plant

India’s Welspun Group has received 8.85 billion rupees (USD 161 million) from lenders including the Central Bank of India to finance the country’s largest solar project.

Welspun is India’s biggest solar developer and has signed long term loans for its 130-MW venture in the Mandsaur district of Madhya Pradesh, which has an annual power deficit of 17.9 percent.

The loans come from different lenders led by the Central Bank of India. They will be used to finance India’s largest solar plant, powering 660,000 homes in next year, according to the company.  

Welspun has more than 300-MW of clean energy projects in construction and the company is planning to add 1.75-GW of solar and wind power in the next few years.