Welspun Says India Set to Double Solar Capacity Target
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Welspun Energy Ltd., India’s biggest developer of solar projects, said the nation will surpass its sun-powered generation target by two-fold over the next decade amid shortages of coal and natural gas.
“A lot of investment planned for thermal power projects will go to renewables,” said Vineet Mittal, managing director of the company, a unit of Welspun Group backed by Apollo Global Management LLC co-founder Leon Black. “Most people don’t realize this yet but India’s power mix will change considerably.”