June 13, 2012
Welspun Energy Ltd said it will invest Rs 5,675 crore in developing two wind power projects in Karnataka over the next five years.
Welspun Energy, a part of USD 3.5 billion Welspun Group, signed initial agreements with the Karnataka government for setting up 100 MW and 750 MW capacity wind power projects in the state.
The projects are part of firm’s target to have 1,750 MW of wind and solar energy projects; 60 per cent of this would be wind energy projects and the rest solar power units.
Welspun Energy aims to develop 1,000 MW of wind power projects by 2014. It is targeting states like Karnataka, Gujarat, and Andhra Pradesh for the projects, according to the company website.
It signed MoU and Expression of Interest with the Karnataka government for the projects at Bijapur, Chitradurga and Belgam.