July 13, 2012. Welspun Energy Ltd., India's biggest developer of solar projects, said the nation will surpass its sun-powered generation target by two-fold over the next decade amid shortages of coal and natural gas. The company joins other developers in diverting new investment to renewable projects. CLP Holdings Ltd., India's largest wind-farm developer, said last month it's more likely to fund renewable projects after fuel shortfalls left a new coal- fired plant "dead cold" since April and cut generation at a gas-fired facility in half. The energy unit of the group that makes pipes, builds roads and runs the U.K. supplier of towels to the Wimbledon tennis championships, has signed agreements over the past year to build more than 1,500 megawatts of solar and wind farms that will require about 98 billion rupees ($1.8 billion) of investment based on current capital expenditure costs. In contrast, it has yet to complete a coal or gas-based plant. The government has set a goal of installing 20 gigawatts of solar capacity by 2022. Welspun estimates that it's more likely to reach 40 gigawatts as renewables close in on the cost of fossil fuel-based power and answer a need for a reliable source of electricity in a nation beset by blackouts.