Corporate News     09-Nov-23
Board of Welspun Corp approves investment of Rs 44 cr for renewable energy consumption
The Board of Welspun Corp at its meeting held on 08 November 2023 has approved an investment not exceeding Rs.44.25 crore holding ~21.54% equity share capital in Mounting Renewable Power (MRPL) and remaining ~51.00% and ~27.46% shareholding in MRPL will be with Welspun New Energy (WNEL), a related party of the Company, and another group captive power consumer viz. Welspun Living (WLL), respectively.

MRPL, a Special Purpose Vehicle, will set up a 42 MW Renewable Energy Round-TheClock (Re-RTC) project to generate energy from wind and solar for the Company's Anjar operations at most competitive rates which will make the Company's Anjar Unit about ~55% RE by the financial year 2026 with a reduction in the cost of power. It would be a significant step towards the Company's journey towards clean and renewable energy.

Previous News
  Welspun Corp consolidated net profit rises 13.53% in the March 2024 quarter
 ( Results - Announcements 30-May-24   17:36 )
  Welspun Corp consolidated net profit rises 3924.09% in the June 2023 quarter
 ( Results - Announcements 04-Aug-23   16:08 )
  Welspun Corp improves its rank in S&P Global's Corporate Sustainability Assessment
 ( Corporate News - 30-Mar-24   10:01 )
  Welspun Corp associate company EPIC bags contract from Saudi Aramco
 ( Corporate News - 10-Nov-23   09:59 )
  Welspun Corp Ltd up for third consecutive session
 ( Hot Pursuit - 11-Jul-24   13:06 )
  Board of Welspun Corp. recommends Final Dividend
 ( Corporate News - 30-May-24   17:02 )
  Welspun Corp consolidated net profit declines 49.25% in the December 2022 quarter
 ( Results - Announcements 03-Feb-23   07:40 )
  Welspun Corp to table results
 ( Corporate News - 29-Jul-22   16:03 )
  Welspun Corp Ltd soars 3.02%
 ( Hot Pursuit - 21-Sep-22   13:05 )
  Welspun Corp Ltd spurts 0.44%, gains for fifth straight session
 ( Hot Pursuit - 02-Feb-24   13:00 )
  Welspun Corp's associate firms bags Rs 1,000 crore contract from Saudi Aramco
 ( Hot Pursuit - 10-Nov-23   10:06 )
Other Stories
  CG Power & Industrial Solutions to acquire radio frequency components biz of Renesas
  05-Oct-24   10:30
  MMP Industries to convene board meeting
  05-Oct-24   10:23
  Mahindra & Mahindra Financial Serv. to discuss results
  05-Oct-24   10:23
  Ambey Laboratories to hold board meeting
  05-Oct-24   10:23
  Aurobindo Pharma's step down subsidiary to divest its entire stake in JV 'Novagen'
  05-Oct-24   10:21
  Aurobindo Pharma's step down subsidiary to divest its entire stake in a South African JV
  05-Oct-24   10:19
  Just Dial announces board meeting date
  05-Oct-24   10:11
  L&T Finance schedules board meeting
  05-Oct-24   10:11
  Australian Premium Solar (India) announces board meeting date
  05-Oct-24   10:11
  Reliance Industrial InfraStructure declare Quarterly Result
  05-Oct-24   10:11
Back Top