Welspun World, through its arm Welspun New Energy, pledges a substantial investment of Rs 40,000 crores to support Gujarat’s ambitious decarbonization goals. The conglomerate aims to establish a robust green hydrogen and green ammonia ecosystem within the state.
Strategic Alliance with Gujarat Pipavav Port
Welspun New Energy has formed a strategic alliance with Gujarat Pipavav Port (GPPL), backed by APM Terminals, a part of the AP Moller-Maersk Group. This collaboration, unveiled at the Vibrant Gujarat Global Summit 2024, focuses on exploring opportunities for developing green hydrogen facilities and derivatives like green ammonia and green methanol. The venture will utilize land provided by Gujarat Pipavav Port.
MoU for Joint Production and Off-take Arrangements
The Memorandum of Understanding (MoU) inked at the summit outlines plans for joint production and off-take arrangements for the green molecules to be generated at the facilities. This signifies a comprehensive partnership to drive sustainable energy solutions.
Welspun’s Vision for Transformative Changes
Kapil Maheshwari, Executive Director and CEO of Welspun New Energy, expresses the initiative’s dedication to fostering prosperity and positive economic impact in Gujarat. The goal is to be a catalyst for transformative changes in India’s energy sector by developing reliable green energy infrastructure.
Aligning with India’s Green Energy Mission
BK Goenka, Chairperson of Welspun World, emphasizes the conglomerate’s responsibility in investing in long-term, strategic projects aligned with a greener planet. The partnership with GPPL aims to explore avenues for reducing emissions in the shipping industry, aligning with Prime Minister Narendra Modi’s mission to position India as a leader in Green Energy.
Welspun World: A Sustainable Conglomerate
With a presence spanning over three decades and annual revenues surpassing USD 3 billion, Welspun World stands as one of India’s fastest-growing conglomerates. Its diverse portfolio includes businesses in line pipes, home textiles, building materials, infrastructure, water, steel, warehousing, new energy, advanced textiles, and flooring solutions. The conglomerate’s commitment to sustainable economic growth echoes its role in shaping India’s green energy landscape. (ANI)
Source：businessworld.in
