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Energy firm to invest USD 1bn in Indian wind farms

Welspun Energy signs 850 MW wind deal with Karnataka state

The wind farms will increase Indian wind power by 850 MW

An Indian firm is to invest USD 1bn in wind farms in the country. Welspun Energy, an Indian independent power producer, plans to make the investment to build two wind farms in the state of Karnataka in the next five years, according to reports. 

The company, a unit of Welspun Group, said it signed agreements with the government of Karnataka for projects with 100 MW and 750 MW of capacity, according to a statement released today, Bloomberg reported.

The facilities to be developed in the districts of Bijapur, Chitradurga and Belgaun contribute to the company goal of installing 1.7 GW of solar and wind parks, or enough to supply power for as many as 9 million homes in India, according to the statement.