India’s Welspun Group plans to invest 150 billion rupees ($2.5 billion) over the next three years in clean-energy plants, the Press Trust of India reported.
Most of the money will go into building solar-power plants to boost the group’s renewable capacity by five times to 1,750 megawatts, PTI said, citing Welspun Group Chairman B.K. Goenka.
Welspun, whose businesses include home linens, industrial pipes and steel, is India’s biggest developer of photovoltaic plants. The Asian Development Bank bought a 25 percent stake in its solar unit in June.