Ratul Puri led Hindustan Power, an integrated energy company in India, has secured a 100 MW AC solar power project from Punjab State Power Corp. Ltd. The project, to be developed in Punjab, will require installation of around 140–150 MWp of solar capacity.
Hindustan Power secured the project through a tariff-based competitive bidding process, followed by a successful e-reverse auction.
Under the terms of the project, Hindustan Power will enter into a 25-year power purchase agreement (PPA) with Punjab State Power Corp. Ltd, providing long-term visibility on revenues while supporting the supply of clean energy to the state. The project is expected to be commissioned within 24 months from the effective date of the PPA.
The addition of this project further expands Hindustan Power’s renewable energy portfolio and strengthens its presence in Punjab, in line with the company’s focus on scaling sustainable power generation capacity across India.
“This project reflects our continued focus on participating in competitive bids where we see a clear alignment between pricing discipline and execution capability. It allows us to add high-quality assets to our portfolio while maintaining our approach to long-term value creation,” said Ratul Puri, chairman, Hindustan Power.
“Punjab remains an important market for us, with steady demand for reliable and clean power. Through this project, we aim to contribute meaningfully to the state’s energy mix while further strengthening our operational footprint in the region,” added Ratul Puri.
Ratul Puri said the company’s priority is to deliver the project on schedule and ensure consistent performance over its lifecycle.
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