About Welspun Renewables
Welspun Renewables is an Energy & Utilities company based in Delhi (India) founded in 1985, and was acquired by Tata Power in June 2016. Solar and wind power generation company. Welspun Renewables has raised $215 million across 4 funding rounds from investors including Asian Development Bank, Tata Power and GE Capital. Its Indian entity Welspun Energy Private Limited reported revenue of ₹807 Cr. Its focus areas include Energy, Wind Energy, Independent Power Producer and Utility. Its competitors include Avaada Group, Greenko Group and Azure Power; 3 of its 3 listed competitors have raised funding.
Company details
Welspun Renewables has commissioned 366 MW of solar and wind power projects. It has projects with a combined capacity of 978 MW under different stages of development all over India. Welspun aims to commission more than 1GW of solar and wind capacity within fiscal 2015 and wants to set up 5 GW of renewable capacity in next few years. The company is planning to raise around INR 10bn through IPO in 2016.
- Headquarters Delhi, India
- Stage Acquired
- SectorsEnergy & Utilities
- Website welspunrenewables.com
- Social LinkedIn X
- Acquired by Tata Power (Jun 2016)
- Legal Name Welspun Energy Private Limited
- Date of Incorporation 19 Aug, 2002
- Jurisdiction Kutch, Gujarat, India
- Annual Revenue₹807 Cr
FY 2016 · -1% YoY
- Net Loss-₹100 Cr
FY 2016 · -12% margin
- EBITDA₹634 Cr
FY 2016 · 79% margin
- Total Equity Funding$215M (USD)
in 4 rounds
- Latest Funding Round$452M (USD), Debt – Venture
Oct 2015
- InvestorsAsian Development Bank
& 2 more
- Acquired byTata Power
(Jun 2016)
Associated legal entities of Welspun Renewables
Welspun Renewables is associated with 2 registered companies on The Company Check; the primary company is Welspun Energy Private Limited. Each company page carries the filings, financials, charges and directors of that entity.
| Legal entity | Status | Incorporated | Registered in | Revenue (FY 2016) | Employees | Directors | Company page |
|---|---|---|---|---|---|---|---|
| Welspun Energy Private Limited CIN U51909GJ2002PTC041136 | Amalgamated | 19 Aug 2002 | Kutch, Gujarat | ₹807 Cr | 3 | 5 | View details |
| Walwhan Renewable Energy Limited CIN U40103MH2009PLC197021 | Amalgamated | 11 Nov 2009 | Mumbai, Maharashtra | ₹1,357 Cr | 73 | 9 | View details |
Funding Insights of Welspun Renewables
Welspun Renewables has successfully raised a total of $215M across 4 strategic funding rounds. The most recent funding activity was a Debt – Venture round of $452 million completed in October 2015. This substantial capital infusion reflects strong investor confidence in the company's business model, growth potential, and market opportunities. The funding enables strategic expansion, product development, market penetration, and operational scaling to drive long-term value creation and competitive advantage.
- Total Funding $215M
- Total Rounds 4
- Last Round Debt – Venture — $452M
- First Round $24M
(Apr 2014)
- Investors Count 2
All 4 funding rounds of Welspun Renewables with amounts and investors; the two latest post-money valuations are shown, the rest are part of the premium plan.
| Date | Amount | Transaction Name | Valuation | Lead Investors | Investors |
|---|---|---|---|---|---|
| Oct 2015 | $165M | Private Equity Round | – | – | – |
| Oct 2015 | $452M | Debt – Venture | – | – | – |
| Jun 2014 | $50M | Private Equity Round | – | – | |
| Apr 2014 | $24M | Debt – Venture | – | – |
3 investors in total: 3 institutional.
Investors in Welspun Renewables
Welspun Renewables has secured backing from 3 investors, including institutional investors. Prominent investors backing the company include Asian Development Bank, Tata Power and GE Capital.
| Investor | Description | Founded Year | Domain | Location |
|---|---|---|---|---|
Advisory services and financial resources are mobilized for development projects. | 1966 | adb.org | Mandaluyong, Philippines | |
Commercial aircraft and equipment leasing and lending services are provided. | 1932 | gecapital.com | United States | |
Electricity generation, transmission, and distribution services are provided. | 1919 | tatapower.com | Mumbai, India |
Investor details for Welspun Renewables
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Board of directors of Welspun Energy Private Limited (Welspun Renewables)
Welspun Energy Private Limited is the primary company behind Welspun Renewables. The boards of the 2 registered companies of Welspun Renewables currently have 13 directors; the longest-serving is Balkrishan Gopiram Goenka, appointed in 2010. 46 earlier directors have ceased.
| Director | Designation | Appointed | Tenure | Entity |
|---|---|---|---|---|
| Balkrishan Gopiram Goenka DIN 00270175 | Director | 10 Feb 2010 | 16 yrs 8 mo | Welspun Energy Private Limited |
| Rajesh Rameshkumar Mandawewala DIN 00007179 | Director | 15 May 2012 | 14 yrs 5 mo | Welspun Energy Private Limited |
| Atul Manubhai Desai DIN 00019443 | Director | 22 Jan 2014 | 12 yrs 9 mo | Welspun Energy Private Limited |
| Apurba Kumar Dasgupta DIN 00043075 | Director | 22 Jan 2014 | 12 yrs 9 mo | Welspun Energy Private Limited |
| Ram Gopal Sharma DIN 00026514 | Director | 10 Jun 2014 | 12 yrs 4 mo | Welspun Energy Private Limited |
| Anjali Jayant Kulkarni DIN 06993867 | Director | 14 Sep 2016 | 10 yrs 1 mo | Walwhan Renewable Energy Limited |
| Sanjay Bhandarkar DIN 01260274 | Director | 03 Feb 2017 | 9 yrs 8 mo | Walwhan Renewable Energy Limited |
| Behram Phiroze Mehta DIN 08830107 | CFO | 01 Feb 2019 | 7 yrs 9 mo | Walwhan Renewable Energy Limited |
| Seethapathy Chander DIN 02336635 | Additional Director | 12 Jul 2021 | 5 yrs 3 mo | Walwhan Renewable Energy Limited |
| Kasturi Soundararajan DIN 03481637 | Director | 15 Jun 2022 | 4 yrs 4 mo | Walwhan Renewable Energy Limited |
| Edward Winter DIN 10110377 | Director | 18 Apr 2023 | 3 yrs 6 mo | Walwhan Renewable Energy Limited |
| Ashwinikumar Ganpatrao Patil DIN 08947244 | CEO | 06 Jul 2023 | 3 yrs 3 mo | Walwhan Renewable Energy Limited |
| Deepesh Kiran Nanda DIN 03151401 | Director | 22 Nov 2023 | 2 yrs 11 mo | Walwhan Renewable Energy Limited |
Financials of Welspun Renewables
Figures of Welspun Energy Private Limited, the primary company behind Welspun Renewables, for FY 2016. Revenue was ₹807 Cr (-1% year on year). Net loss was -₹100 Cr (-12% margin). EBITDA was ₹634 Cr (79% margin).
- ₹807 CrRevenue · FY 2016 · -1% YoY
- -₹100 CrNet loss · -12% margin
- ₹634 CrEBITDA · 79% margin
- ₹391 CrPaid-up capital
- 3Employees (provident fund records)
Balance sheet, profit and loss, cash flow and ratios of Welspun Energy Private Limited are on its company page.
Detailed financial statements for Welspun Renewables
Statement rows, ratios, five-year trends and downloadable financials of the group companies require an active premium plan.
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Timeline of Welspun Renewables
4 dated milestones of Welspun Renewables across 31 years, from founding to its latest funding, stage changes and deals.
- Founded Welspun Renewables is founded.
- Funding First funding round of $24.0M.
- Funding Latest funding round, Debt – Venture, of $452.0M.
- Exit Acquired by Tata Power.
Competitors of Welspun Renewables
Welspun Renewables has 3 listed competitors in our database, 3 of them funded. They include Avaada Group, Greenko Group and Azure Power.
| Company Name | Domain | Founded | HQ Location | Total funding | Employees | Description |
|---|---|---|---|---|---|---|
| avaada.com | 2009 | Delhi, India | $879.45M | 2,935 | Renewable energy projects in solar, wind, and storage are developed. | |
| greenkogroup.com | 2006 | Hyderabad, India | $942.81M | 160 | Energy transition and decarbonization solutions are provided by Greenko Group. | |
| azurepower.com | 2008 | Delhi, India | $174.06M | 902 | Provider of independent power producer in the utility scale renewable energy |
Detailed competitors of Welspun Renewables
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Top companies in Renewable & Sustainable Energy
3 companies that operate in the same segment as Welspun Renewables (Renewable & Sustainable Energy) in India, ranked by their profile score on The Company Check.
| Company | Description | Founded | Location | Total funding | Revenue | Employees |
|---|---|---|---|---|---|---|
Hybrid renewable energy solutions are provided for rural communities. | 2008 | Patna, Bihar, India | USD 73.99 M | USD 3.46 M | 294 | |
Solar energy projects are developed for commercial and industrial clients. | 2011 | Mumbai, Maharashtra, India | USD 442.67 M | USD 166.51 M | 365 | |
Manufacturer of solar PV modules | 1990 | Mumbai, Maharashtra, India | USD 111.38 M | USD 2.77 B | 8,690 |
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Frequently Asked Questions about Welspun Renewables
Welspun Renewables was founded in 1985 and raised its 1st funding round 29 years after it was founded.
Welspun Renewables is headquartered in Delhi, India. It is registered at Delhi, Delhi, India.
Welspun Renewables is a funded company, having raised a total of $215M across 4 funding rounds to date. The company's 1st funding round was a Debt – Venture of $24M, raised on Apr 2014.
The primary company behind Welspun Renewables, Welspun Energy Private Limited, reported revenue of ₹807 Cr for FY 2016, down 1% year on year.
Welspun Renewables has commissioned 366 MW of solar and wind power projects. It has projects with a combined capacity of 978 MW under different stages of development all over India. Welspun aims to commission more than 1GW of solar and wind capacity within fiscal 2015 and wants to set up 5 GW of renewable capacity in next few years. The company is planning to raise around INR 10bn through IPO in 2016.
Welspun Renewables's top competitors include Avaada Group, Azure Power and Greenko Group.
Welspun Renewables has 3 investors. Key investors include Asian Development Bank, Tata Power, and GE Capital.
Welspun Renewables is associated with 2 legal entities: Welspun Energy Private Limited, Walwhan Renewable Energy Limited.
Yes. Welspun Renewables was acquired by Tata Power in June 2016.
The legal entities of Welspun Renewables currently have 14 directors, including Atul Manubhai Desai, Rajesh Rameshkumar Mandawewala, Balkrishan Gopiram Goenka and others.