Textiles-to-warehousing conglomerate Welspun Group is planning to re-enter the renewable energy (RE) segment by setting up hybrid RE power plants and manufacturing green hydrogen.
Welspun offers solutions to its customers through innovation and technology and is keen to explore textiles, line pipes, flooring solutions, warehousing, roads, and oil and gas as well as expand in these segments. For this, the company is charting out plans to venture into these sectors.
The company was involved in the renewables business, which it exited the sector over eight years ago. In 2016, Welspun Group's energy arm, Welspun Energy, sold its 1.1 GW renewable assets to Tata Power for Rs 10,000 crore.
Further, the company aims to achieve sustainable growth and create a smarter and more sustainable world by developing RE generation and improving India's energy mix.