New Delhi, Feb 4 (PTI) – In a major push towards green energy, Welspun New Energy has entered into an agreement with the Odisha government to invest Rs 13,500 crore for the development of two major clean energy projects in the state. The projects aim to significantly boost Odisha’s energy infrastructure while contributing to India’s broader renewable energy goals.
The pact involves the creation of a 1,200 MW pumped hydro project and a 1,000 MW floating solar power project. These initiatives are expected to enhance the state's energy storage capabilities, facilitate the integration of renewable energy into the national grid, and support India’s ambitious target of achieving 500 GW of renewable energy capacity by 2030.
Kapil Maheshwari, Executive Director & CEO of Welspun New Energy, expressed enthusiasm about the investment, stating, "The projects, backed by our Rs 13,500 crore investment in green technologies, mark a key milestone in our mission to accelerate renewable energy adoption in the state. This reflects our steadfast commitment to innovation and sustainability."
Welspun World, the parent company of Welspun New Energy, is a diversified conglomerate with a strong presence in sectors such as steel, renewable energy, line pipes, oil and gas, and infrastructure.
This move by Welspun New Energy highlights a significant step toward strengthening India’s clean energy infrastructure and aligns with the country’s long-term sustainability goals.
The pact involves the creation of a 1,200 MW pumped hydro project and a 1,000 MW floating solar power project. These initiatives are expected to enhance the state's energy storage capabilities, facilitate the integration of renewable energy into the national grid, and support India’s ambitious target of achieving 500 GW of renewable energy capacity by 2030.
Kapil Maheshwari, Executive Director & CEO of Welspun New Energy, expressed enthusiasm about the investment, stating, "The projects, backed by our Rs 13,500 crore investment in green technologies, mark a key milestone in our mission to accelerate renewable energy adoption in the state. This reflects our steadfast commitment to innovation and sustainability."
Welspun World, the parent company of Welspun New Energy, is a diversified conglomerate with a strong presence in sectors such as steel, renewable energy, line pipes, oil and gas, and infrastructure.
This move by Welspun New Energy highlights a significant step toward strengthening India’s clean energy infrastructure and aligns with the country’s long-term sustainability goals.