Welspun Living Ltd to Invest in 18 MWp Ground Mounted Solar Power Plant, Aiming to be 100% Renewable Energy Consumer by 2030

Welspun Living Ltd has approved an equity investment not exceeding Rs. 4.00 Crore for acquiring/maintaining up to ~26.33% equity share capital of Bhargavi Renewable Private Limited (BRPL). This investment is part of the company's objective to be a 100% Renewable energy consumer by the year 2030. The 18 MWp Ground Mounted Solar Power Plant will supply power to Vapi facilities, making them upto 60% RE by the financial year 2025 with a reduction in the cost of power. The company proposes to enter into a Power Purchase Agreement with BRPL for supply of renewable power for a period of 25 years with an interest-free security deposit of upto Rs. 2.15 Crore.