The Asian Development Bank (ADB) has invested part of a US$50 million commitment of equity capital into Welspun Renewables Energy Private Limited (WREPL). This is the largest direct equity investment in the renewable energy sector in India. This announcement comes close on the heels of General Electric investing $24 million in WREPL’s Neemuch project.
WREPL has 328 MW (DC) operational capacity of renewable energy generation spread across eight states. The company plans to set up a total renewable capacity of 1,750 MW in solar and wind in next three years with an incremental capital outlay in excess of Rs 11,000 crores. WREPL operates one of the world’s largest solar projects which is located in Neemuch district of Madhya Pradesh with a nameplate capacity of 151 MW.