Welspun Energy Ltd on 21 August 2013 unveiled the 55-MW solar plant in Rajasthan. This is the 500 crore Rupees project and is the largest single-location solar plant of Asia. The solar plant was inaugurated by the Union Minister for New and Renewable Energy, Farooq Abdullah, and Rajasthan Chief Minister Ashok Gehlot.
Welspun declared that it targeted to invest 15000 crore Rupees for establishing the 1750 MW of renewable energy projects by 2016. Currently, the operating capacity is 150 MW and it will increase to 400 MW by the end of 2013-14 fiscal year.
For financing the expansion plans, Welspun Energy Ltd would raise money through the domestic loans. The project build-up plan of Welspun Energy Ltd includes 850 MW wind as well as 550 MW solar plants in Karnataka. The company also planned to develop the wind capacity of around 300 MW in the state of Rajasthan.
Apart from this, the Welspun Energy Ltd also signed the MoUs with Andhra Pradesh and Chhattisgarh for establishing 500 MW as well as 100 MW solar plants.