In line with its objective to become a 100% renewable energy consumer by 2030, Welspun has approved an equity investment of up to ₹1.15 crore in Welspun Bhargavi Private Limited (WBPL), a Special Purpose Vehicle (SPV) for setting up solar power plants. These facilities include a 2 MWp solar power plant for Welspun’s flooring (SPC) units and a 2.60 MWp solar plant for the manufacturing facilities of Welspun Advanced Materials (India) Limited, a wholly-owned subsidiary, located in Telangana. The solar plants are scheduled to be operational by the financial year 2025.
Welspun will enter into a Power Purchase Agreement with WBPL, with a Take or Pay arrangement, for 25 years. This step aligns with the company’s commitment to sustainable energy, reducing energy costs, and achieving its target of 100% renewable energy consumption by 2030.
