Hindustan Power achieves financial closure for 300 MW solar project in Lalitpur, India

2026-08-22 10:21
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en.Wedoany.com Reported - India-based independent power producer (IPP) Hindustan Power has announced the financial closure of its 300 MW solar project in Lalitpur district, Uttar Pradesh, involving an amount of INR 11.35 billion (approximately USD 118.63 million). The project has a total capacity of 435 MWp/300 MWac, with debt approved by the Indian Renewable Energy Development Agency (IREDA), and a long-term power purchase agreement has been signed with Uttar Pradesh Power Corporation Ltd.

Hindustan Power achieves financial closure for its 300 MW solar project in Lalitpur, with debt approved by the Indian Renewable Energy Development Agency (IREDA). Image source: American Public Power Association/Unsplash

The project was secured in 2025 through a competitive bidding process by Uttar Pradesh Power Corporation Limited (UPPCL), and a long-term power purchase agreement (PPA) has been signed with UPPCL. Construction is already underway and progressing as planned. The project is one of the largest solar projects under development in Uttar Pradesh and will supply power to UPPCL for 25 years upon completion.

Ratul Puri, Chairman of Hindustan Power, stated that this project is a significant milestone in the company's renewable energy expansion, and that with Uttar Pradesh's continuously growing energy demand, projects of this scale will play a vital role in strengthening the state's clean energy capacity.

India
Energy EngineeringPV
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