Welspun World’s Rs 40,000 Cr investment for green energy transition

Welspun World, a prominent Indian conglomerate, through its subsidiary, Welspun New Energy (WNEL), has committed to investing over Rs 40,000 crores to develop a robust Green Hydrogen and Green Ammonia ecosystem in Gujarat, supporting the state’s decarbonisation ambitions.

WNEL has entered into a strategic alliance with Gujarat Pipavav Port (GPPL), promoted by APM Terminals, to explore and develop Green Hydrogen facilities for the production of Green Hydrogen and its derivatives, including Green Ammonia and Green Methanol.

The memorandum of understanding (MoU) was signed at the Vibrant Gujarat Global Summit 2024, marking a significant step towards realising the state’s vision for a sustainable and reliable power infrastructure.

The collaboration aims to strengthen Gujarat’s position as a key player in the green energy sector. WNEL and GPPL will jointly explore opportunities for production, off-take arrangements, and the development of facilities for Green Molecules. This partnership underscores Welspun’s dedication to decarbonise its entire value chain and transition to sustainable fuel sources.

WNEL has already achieved noteworthy milestones in renewable energy (RE) and green hydrogen. The company is a winning bidder under the Solar Energy Corporation of India’s SIGHT tender, securing incentives for 20,000 MTPA of Green hydrogen production. Additionally, it has received in-principle approval from the Government of Gujarat for developing renewable energy on approximately 20,000 acres of land dedicated to green hydrogen production.

Welspun World, a trailblazer in the Renewable Energy industry, aims to have a portfolio of 5 GW of Renewable Energy and 2 Million Tons of Green Hydrogen and its derivatives by 2030. The group, with a strong financial backing and prior experience in large-scale RE projects, continues to contribute to India’s green energy journey.