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Hindustan Power has secured a 100 MW solar project from Punjab State Power Corporation Limited through a competitive bidding process. The project will be developed in Punjab and will operate under a 25-year power purchase agreement, ensuring long-term revenue stability for the company. It is expected to be commissioned within two years from the agreement’s effective date. The development aligns with Punjab’s push toward clean energy and strengthens Hindustan Power’s presence in the state’s renewable energy sector.
Hindustan Power has secured a 100 MW alternating current solar power project from Punjab State Power Corporation Limited (PSPCL), marking a new addition to its renewable energy portfolio in the state. Advertisement
The project was awarded through a tariff-based competitive bidding process, followed by an e-reverse auction. The company confirmed that it will develop the solar project within Punjab as part of the state’s ongoing efforts to expand its clean energy capacity.
As part of the agreement, Hindustan Power will sign a 25-year power purchase agreement (PPA) with PSPCL. This long-term contract is expected to provide stable revenue visibility for the company while supporting the supply of renewable power to the state grid.
The project is scheduled to be commissioned within 24 months from the effective date of the PPA, indicating a relatively standard execution timeline for utility-scale solar developments.
Chairman Ratul Puri stated that Punjab continues to be an important market for the company due to its consistent demand for reliable and clean energy. He added that the project is expected to contribute to the state’s energy mix while strengthening the company’s operational presence in the region.
Hindustan Power has been actively expanding its renewable energy portfolio across India, with a focus on solar and transitional energy solutions. The company has previously executed multiple solar projects across states, aligning with the country’s broader push towards increasing renewable energy capacity and reducing dependence on conventional power sources.
Punjab has been gradually increasing its share of renewable energy in recent years, with solar power emerging as a key component of its strategy to meet rising electricity demand while managing environmental concerns.
Source PTI
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