Welspun Energy on May 16 stated that it has been sanctioned Rs 120 crore loan for its 20 mw wind energy project at Jaisalmer in Rajasthan. Welspun Energy has achieved financial closure of its 20 mw wind power project at Jaisalmer, the company said in a statement.
The company has received a sanction exceeding Rs 120 crore as against a debt requirement of Rs 88 crore, it said. 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.
Rajasthan has tremendous renewable energy potential and through this project Welspun Energy is expecting to power over 1,15,200 households, the statement said.