Indian firm raises $64m finance for solar

Welspun Energy has raised $64.11m in project finance from a consortium of lenders to set up a 50MW solar photovoltaic (PV) project in the state of Rajasthan, India.

Energy Business Review reports that the Indian company has already signed a power purchase agreement with NTPC Vidyut Vyapar Nigam on 27 January 2012.

Welspun Energy managing director Vineet Mittal said, "The quick financial closure reinforces the faith and support of the financial sector in Welspun Energy's credibility and unmatched skill at project execution, commissioning and power generation."

The project is likely to be commissioned in the first quarter of 2013.

For more solar power news




Did You Like this Article? Get All the Energy Industry News Delivered to Your Inbox

Subscribe to an email newsletter today at no cost and receive the latest news and information.

 Subscribe Now


Maximizing Operational Excellence

In a recent survey conducted by PennEnergy Research, 70% of surveyed energy industry professional...

Leveraging the Power of Information in the Energy Industry

Information Governance is about more than compliance. It’s about using your information to drive ...

Reduce Engineering Project Complexity

Engineering document management presents unique and complex challenges. A solution based in Enter...

Revolutionizing Asset Management in the Electric Power Industry

With the arrival of the Industrial Internet of Things, data is growing and becoming more accessib...