Welspun Renewables Receives $617M in Funding

welspunWelspun Renewables, an Indian renewable energy generator, received $617m in second funding.

GE has provided the funding, which was generated through a sum of $405m debt, $165m in equity and $47m in line of credit.

Led by Balkrishna Goenka, Chairman, Welspun Renewables is an independent developer of renewable energy projects. The organization is committed to setting up 5 GW capacities and of this 1 GW will be commissioned within this financial year. At present the organization’s solar and wind projects are spread across 8 different states in the country. To fate, Welspun Renewables has generated over 1.375 billion units of clean energy and mitigated 1.2 million tons of CO2 emissions through its clean energy projects.

FinSMEs

13/10/2015

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