Welspun secures Rs. 630-cr funding for 126 MW Rajasthan wind project.

Welspun Renewables Energy has secured Rs. 630 crore of debt funding from a consortium of financial institutions for its 126 MW wind project in the Pratapgarh district of Rajasthan.

The company is buying GE's 1.6 MW machines for 64 MW and Gamesa's 2 MW machines for 62 MW.

The project is scheduled to be completed by June 2015. The power generated will be sold to Rajasthan's electricity distribution company for a price of Rs. 5.93 a kWhr.

The project will be constructed by Welspun Energy Rajasthan Pvt Ltd.

Welspun Renewables Energy is predominantly into solar power and has 328 MW of solar plants in operation and another 600-odd MW in the pipeline. It has 20 MW of wind assets, but the Pratapgarh project is its first major foray into wind.

In a press release, Welspun recently said the offers for debt totalled to twice the amount sought.

HBL