Hindustan Power gives update on its UP solar project
Hindustan Power has achieved financial closure with the Indian Renewable Energy Development Agency (IREDA) having sanctioned Rs.1,135 crore in debt for a 435 MWp/300 MW solar power project in Lalitpur district Uttar Pradesh.
“Work is already underway and is progressing according to the planned development schedule. The project has now reached a significant stage,” said Hindustan Power Chairman Ratul Puri in a project update.
Awarded to Hindustan Power through a competitive bidding process in 2025, the project is among the largest solar projects being developed in Uttar Pradesh. It has a long-term Power Purchase Agreement (PPA) with Uttar Pradesh Power Corporation Limited (UPPCL), providing a framework for supplying clean power to the state as its energy requirements continue to grow.
“The project reflects the direction in which India’s energy needs are moving. Uttar Pradesh is having to accommodate rising electricity demand while simultaneously increasing its reliance on renewable energy. Large-scale projects such as Lalitpur can help bridge these two imperatives by adding substantial clean generation capacity to the energy mix,” he said on 26 Aug.
There is also a larger idea behind the project. India’s energy transition will not be defined by renewable capacity alone. It will depend on how effectively that capacity can be developed, integrated and deployed to meet the needs of a growing economy, continued Puri, emphasizing the importance of building reliable, efficient and sustainable generation capacity as India reshapes its energy mix.
“That places execution at the centre of the transition. With construction underway, the focus now turns to delivering the Lalitpur project on schedule and translating the investment into additional clean power capacity for Uttar Pradesh,” he underlined.
The Rs.1,135 crore financial closure comes as Hindustan Power continues to expand across renewable and transitional energy generation. The company is pursuing large-scale energy infrastructure projects designed to support India’s growing power requirements while contributing to its broader energy transition.
The impact of the Lalitpur project is expected to extend beyond the electricity it will generate. Its development is likely to support regional economic activity and create employment opportunities for local communities, bringing a wider economic dimension to the investment.
Puri stressed that the project forms part of a longer-term approach to building the energy infrastructure that India will need in the years ahead. As electricity consumption grows and the country moves towards a cleaner energy mix, the ability to develop projects at scale and execute them efficiently will become increasingly important.
“The Lalitpur project therefore represents more than 435 MWp of solar capacity. It is part of a much larger shift underway across India’s energy sector, where rising demand and the transition to cleaner power are increasingly becoming two sides of the same equation,” he said.
As work progresses, the project will add a sizable new source of renewable generation to Uttar Pradesh. For Hindustan Power, it also marks another step in building a broader renewable energy portfolio and participating in the evolution of India’s energy future.
Hindustan Power is a leading integrated power generation company in India with a focus on renewable and transitional energy generation. With a commitment to sustainability and innovation, the company has been an active contributor to India’s energy transformation.
Puri elaborated, India’s energy landscape is undergoing a significant transformation. Rising electricity demand, expanding industrial activity, and the growing adoption of cleaner power are reshaping the country’s energy priorities. Meeting this demand will require not only greater generation capacity but also a more diverse and resilient energy infrastructure capable of supporting economic growth while accelerating the shift towards cleaner sources.
“This transition is already gaining momentum. India has crossed 300 GW of installed non-fossil fuel-based power capacity, reaching around 60% of its 500 GW target for 2030. The progress reflects the increasingly important role of clean energy in meeting the country’s future power requirements,” he said. fiinews.com
