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Welspun New Energy to Invest Rs13,500 Crore in Odisha for Clean Energy Projects

Welspun New Energy Ltd. has signed an agreement with the Odisha government to invest Rs13,500 crore in two major renewable energy projects: a 1,200 MW pumped hydro storage system and a 1,000 MW floating solar power plant. These projects will enhance grid stability, expand energy storage capacity, and optimize solar potential while conserving land.

Kapil Maheshwari, Executive Director & CEO of Welspun New Energy, highlighted the company’s commitment to sustainability and innovation, reinforcing Odisha’s role in India’s green energy transition. This investment aligns with India’s ambitious goal of achieving 500 GW of renewable energy by 2030.

With growing focus on hydro storage and floating solar, India is moving towards a more efficient and resilient clean energy ecosystem.