Welspun Energy ties up funds for Rajasthan project

Welspun Energy, on Thursday, said it had achieved financial closure of its 20 MW wind power project in Jaisalmer in Rajasthan.

"Welspun Energy has achieved financial closure of its 20 MW wind power project at Jaisalmer.

The company has received a sanction exceeding Rs.120 crore as against a debt requirement of Rs.88 crore," the company said in a statement here.

The entire project cost has been funded on a 75:25 debt-equity ratio.

Welspun Energy Solar Rajasthan, a fully-owned subsidiary of the company, had signed a power purchase agreement (PPA) with the Rajasthan Renewable Energy Corporation.