Hindustan Power, led by Ratul Puri, has secured a 100 MW AC solar power project from Punjab State Power Corporation Limited (PSPCL), marking a significant step in expanding its renewable energy footprint in India.
The project, to be developed in Punjab, is expected to involve the installation of approximately 140–150 MWp of solar capacity. It was awarded through a tariff-based competitive bidding process, followed by a successful e-reverse auction conducted on the ETS portal.
Under the agreement, Hindustan Power will sign a 25-year Power Purchase Agreement (PPA) with PSPCL. This long-term contract is expected to ensure stable revenue streams while contributing to the supply of clean and reliable energy in the state. The project is slated for commissioning within 24 months from the effective date of the PPA.
The addition of this project further strengthens Hindustan Power’s renewable energy portfolio and reinforces its presence in Punjab, a key market with growing demand for sustainable power solutions.
Commenting on the development, Ratul Puri said the project aligns with the company’s strategy of participating in competitive bids where pricing discipline and execution capability converge. He noted that the initiative would enable the company to add high-quality assets while maintaining its focus on long-term value creation.
Highlighting Punjab’s importance, Puri stated that the state continues to offer strong demand for dependable and clean energy. He added that the project would contribute meaningfully to the region’s energy mix while expanding the company’s operational footprint.
He further emphasised that the long-term PPA provides investment stability and allows for better execution planning, with a clear priority on timely delivery and consistent performance throughout the project lifecycle.
With this latest win, Hindustan Power continues to build a diversified pipeline of renewable energy projects, maintaining a disciplined approach to growth while supporting India’s broader transition toward cleaner energy sources.
