Billionaire's Clean Energy Firm Seeks $100M Stake Sale

In November 2025, billionaire B.K. Goenka's infrastructure development company, Welspun World, has launched the sale process for a majority stake in its clean energy platform, Welspun New Energy. The company has hired EY to manage the deal, which is expected to have an equity value of around $100 million.

Welspun New Energy currently has 1.2GW of contracted capacity, with 866MW contracted with state-run entities like NTPC, Solar Energy Corporation of India, and Gujarat Urja Vikas Nigam. The company also has 3.1GW of projects under development that have secured transmission connectivity.

This move comes as India aims to rapidly expand its renewable energy capacity to meet its ambitious climate goals. The government plans to add 50GW of renewable energy every year to reach 500GW by 2030, and further build 1,800GW by 2047 and 5,000GW by 2070 to achieve net-zero emissions.

The clean energy sector in India has been attracting significant foreign direct investment, with around 83% of the country's power sector investment going to clean energy in 2024. India was the world's largest recipient of development finance institution funding in clean energy generation in 2024, receiving $2.4 billion.