Indian renewables developer Welspun has agreed a deal to build 600MW of solar and 500MW of wind in Gujarat.
It was reported that the company had signed a memorandum of understanding with the state’s government. The company confirmed the main terms of the deal to PV Tech but was unable to give any further details at this time.
The projects will be co-developed with Gujarat Urja Vikas Nigam (GUVN), the holding company for the state’s electricity board.
The value of the investment for the total 1.1GW of renewable generation is INR8300 crore (US$1.3 billion), according to Welspun.
“We are deeply honoured to the state of Gujarat for once again placing their trust in us,” said Vineet Mittal, vice chairman, Welspun Renewables. “The company started its journey with Gujarat by commissioning its first clean energy project in Anjar. Gujarat has always been our natural choice in building projects not just for conducive climatic conditions but because of its investor friendly environment.”