Welspun Plans to Invest $4.8 Billion in Gujarat for Green Hydrogen and Ammonia Projects

Welspun announced a substantial investment of USD 4.8 billion in establishing a green hydrogen and green ammonia ecosystem in Gujarat. Through its new entity, Welspun New Energy Ltd. (WNEL), the group will delve into opportunities for developing green hydrogen projects and their derivatives in the state.

WNEL recently clinched the Solar Energy Corporation of India's SIGHT tender, securing incentives for 20,000 MTPA of green hydrogen production. Additionally, the Gujarat government has approved for WNEL to develop renewable energy projects on 20,000 acres of land.

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At an advanced stage, WNEL is actively working on 1000 MW of renewable energy projects for leading manufacturing units in Gujarat. The resulting green derivatives are poised to enhance Pipavav Port's global standing as a green shipping line.

Gujarat, with its abundant renewable energy resources like solar and wind power, stands as an ideal location for this ambitious project. The availability of these resources is crucial for the production of green hydrogen and ammonia, which rely on renewable electricity.

About Welspun New Energy Limited

Welspun New Energy Limited (WNEL) is a relatively young company, having been founded in 2022.  It is a subsidiary of Welspun Enterprises, a much larger and more established Indian conglomerate with a diversified portfolio across the infrastructure and energy sectors.

WNEL's focus is on renewable energy, specifically solar power. It aims to develop, build, and operate solar power projects across India. The company is currently working on several projects, including a 550 MW solar capacity project in Karnataka and a 100 MW project in Andhra Pradesh.

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