According to Bloomberg, Welspun Group (a multinational industry dealing in steel, energy and textiles) has raised $161 million from lenders led by Central Bank of India to finance the building of a new solar plant in India.
According to the company, this 130-megawatt plant, Mandsaur district of Madhya Pradesh, which will be the largest one in India, will power 660,000 homes when switched on in May next year. This was possible thanks to long-term loans the company signed for its venture in the .
The central state of Madhya Pradesh has an annual power deficit of 18 percent, according to Welspun. Welspun has more than 300-MW of clean energy projects in construction and the company is hopes to add 1750 megawatts of solar and wind power in the next few years.