Welspun achieves financial closure for mega Rajasthan wind project

 Welspun Renewables Energy Pvt. Ltd. (WREPL) announced that it has closed financing for its 126 MW wind project in Rajasthan. Debt component of Rs 630 crore has been secured through long-term funding from a consortium of leading financial institutions. 
Slated to be commissioned by June 2015, the on-ground construction work for the project has progressed well ahead of schedule. “While the industry has been facing funding challenges, WREPL has been successful in organising financing for its projects. Apart from receiving backing from national institutions, Welspun Renewables has also received infusion from a major international financial institution,” the company said issuing a statement. 
Vineet Mittal, Vice Chairman Welspun Renewables Energy said, “We have commissioned our projects well within the committed timelines and many of these are being numbered among the highest generating power plants in the country. We are aggressively focusing on our wind portfolio now and the Pratapgarh project is our second wind power project in the state.”  
The Pratapgarh district is one of the highest wind velocity sites in Rajasthan. Once commissioned, this project will generate an estimated 290 million units of clean energy. 
The company has successfully developed 328 MW (DC) capacity of solar PV projects across the country.

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