Welspun Energy will soon complete its solar photovoltaic project at Ganeshpura village in Neemuch district of Madhya Pradesh, much before schedule. 

The company will complete the 130 MW power project in August 2013 as it has completed the financial closure for the project in February of this year. The project was scheduled to be completed in August 2014. Last year, the company secured the right to set up the plant and sell the power to Madhya Pradesh-owned electricity distribution utility in a competitive bidding process. The Neemuch solar photovoltaic project being developed by Welspun Solar, Madhya Pradesh, is estimated to cost Rs 1,250 crore.

In the current year, Welspun is expected to add 300 MW of capacity to its existing 111 MW capacity. This 300 MW will include the 130-MW in Madhya Pradesh.

Meanwhile, the company has received the LoI from the TANGEDCO for setting up the solar plant in Tamil Nadu.

Besides, the company plans to invest Rs 1,000 crore in its 100 MW Chhattisgarh solar power project. However, it is facing delay in signing the power purchase agreement.

In addition to solar, Welspun will add 140 MW of wind power capacity in the current financial year.