Welspun Energy will invest Rs 1,350 crore in the next three years to set up 150 MW solar power project in Punjab, for which the company has signed the initial agreement with the state government.
"Welspun Energy Limited today announced an MoU with Punjab government to set up solar power project of 150 MW capacity," the company said in a statement.
Welspun Energy will invest Rs 1,350 crore for setting up this solar project over the next three years, it said, adding that Welspun is already developing a 35 MW solar project in Punjab.
This 150 MW project is slated to begin commercial operations by 2017.
"The partnership with Government of Punjab is in line with our commitment of lighting India with clean, sustainable energy. We look forward to working in close collaboration with the local authorities to develop efficient and world class solar capacities for the state," Vineet Mittal, Managing Director, Welspun Energy said in the statement.
The project will supply clean energy to 72 lakh families. With the commissioning of this project, an estimated 24,96,602 tonnes of carbon dioxide emissions will be mitigated each year, the statement claimed.
At present, Punjab has an installed power capacity of close to 8,000 MW of which 9 MW is solar.
