Welspun New Energy has signed a Memorandum of Understanding (MoU) with the Government of Odisha to invest Rs 135 billion in the state’s renewable energy sector. The agreement includes plans for a 1,200 MW pumped hydro project and a 1,000 MW floating solar power project.
These initiatives aim to enhance Odisha’s energy storage capacity and facilitate the integration of renewable energy into the grid, supporting Odisha’s ‘Viksit Odisha 2036’ vision to position the state as a leading green energy hub as well. The projects are also expected to generate employment opportunities and drive socio-economic growth in the region.
In September 2024, Welspun New Energy signed a MoU with the Maharashtra government to develop the 1,200 MW Dhammi Pumped Hydro project in Pune and Raigad districts, with an estimated cost of Rs 50 billion and a completion timeline of 6 to 7 years.
