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India-based Welspun Energy, through its subsidiary Welspun Renewables Energy, has signed an agreement with the Government of Chattisgarh to install a 100MW Solar Power project in the state.
The project is estimated to cost INR10bn ($0.18bn) and commence operations in 2015. Welspun Energy co-founder and managing director Vineet Mittal stated that India’s accelerating energy needs a balanced approach.
“Green energy can be made affordable if more and more states take initiatives to expand their renewable portfolio. Dependence on fossil fuels must decrease.
“We want to bring a change in this power equation and with this MoU we are taking our first step in this direction in Chhattisgarh,” Mittal added.
Welspun Energy expects to commission 1.7GW of solar and wind power projects in the country over the next three years.
The Government of Chattisgarh on its part would assist the company with necessary approvals & clearances, permission, land acquisition and registration for the project.