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Welspun Flooring to source renewable energy from SPV Welspun Bhargavi
In Short -Welspun Flooring to procure renewable energy from SPV Welspun Bhargavi
In Detail -Welspun Living announced that its wholly owned subsidiary, Welspun Flooring (WFL) is investing Rs 1.76 crore in Welspun Bhargavi (WBPL), a special purpose vehicle, for setting up of about 8.10 MWp Solar Power Project.
WFL proposes to enter into the Power Purchase Agreement (with Take or Pay arrangement) for for supply of renewable power for a period of 25 years. WFL will hold up to 49% equity share capital of WBPL. It would be a significant step towards the Company’s journey to reach 100% RE by 2030.
