Welspun's Green Power Surge: Odisha's Renewable Leap

Welspun New Energy has entered an agreement with the Odisha government to invest Rs 13,500 crore in developing a 1,200 MW pumped hydro project and a 1,000 MW floating solar power project. These initiatives aim to boost energy storage, integrate renewables, and contribute to India's renewable energy goals.

In a strategic move towards sustainable energy solutions, Welspun New Energy has sealed a significant agreement with the Odisha government. This pact involves an investment commitment of Rs 13,500 crore to establish two major clean energy projects.

The projects include a 1,200 MW pumped hydro project and a 1,000 MW floating solar power project. These developments are poised to enhance Odisha's energy storage capabilities and support renewable energy integration into the grid, aligning with India's target of 500 GW renewable capacity by 2030.

Welspun's initiative underscores its commitment to innovation and sustainability, as highlighted by Kapil Maheshwari, Executive Director & CEO of Welspun New Energy. The company's involvement showcases its leadership in renewable and traditional sectors, reinforcing its dominant market position.

(With inputs from agencies.)