Welspun plans to make a comeback in renewables sector
Welspun Group is planning to re-enter the same by setting up hybrid renewable energy power plants and manufacturing green hydrogen, chairman BK Goenka said.
«We were in the business of renewable, which we sold 7-8 years back as we got a good valuation then, which was a benchmark. Today, I think India is going to be the hub for green hydrogen and green ammonia.
And this is a sector of the future,» Goenka told ET in an interview.
In 2016, Welspun Group's energy arm, Welspun Energy, had sold its 1.1 GW renewable assets to Tata Power for ₹10,000 crore. Welspun has interests in textiles, line pipes, flooring solutions, warehousing, roads, and oil and gas, and is also expanding in these segments.
«We are still drawing up plans for a play in the sector. Technology is changing very fast but we are committed,» said Goenka.
