June 13 (Bloomberg) -- Welspun Energy Ltd., an Indian independent power producer, plans to invest $1 billion to build two wind farms in the state of Karnataka in the next five years.
The company, a unit of Welspun Group, said it signed agreements with the government of Karnataka for projects with 100 megawatts and 750 megawatts of capacity, according to a statement released today. Welspun is also India’s biggest photovoltaic developer.
The facilities to be developed in the districts of Bijapur, Chitradurga and Belgaun contribute to the company goal of installing 1.7 gigawatts of solar and wind parks, or enough to supply power for as many as 9 million homes in India, according to the statement.
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