Hindustan Power bags 425 MWp solar power project from Uttar Pradesh Power Corp. | Mint

Hindustan Power has won a 425 MWp (megawatt peak) solar power project from Uttar Pradesh Power Corp. Ltd (UPPCL) through a tariff-based competitive bidding process.

A megawatt-peak is a unit used to describe the maximum power output of solar power systems in an ideal condition.

The letter of award (LoA) was issued by UPPCL following an e-reverse auction, as a part of its 2,000MW grid-connected solar PV power procurement initiative, said a company statement on Thursday.

The project developed by Hindustan Power will supply power to UPPCL at a fixed tariff over a 25-year period according to the power purchase agreement (PPA).

The project is expected to be commissioned within 24 months from the date of signing the PPA.

“We are proud to contribute to Uttar Pradesh’s growing demand for sustainable energy solutions and look forward to delivering yet another world-class solar project,” said Ratul Puri, chairman, Hindustan Power.

Puri added that the project is a step towards the company’s vision of achieving 5GW renewable energy portfolio by 2028.

The growth in renewable energy projects in the country has gained momentum over the past few years, with the government targeting to achieve 500GW of non-fossil capacity.

In FY25, India added 25GW of renewable energy capacity, the highest-ever green power capacity addition in a year, registering a nearly 35% growth from the previous fiscal. Out of the 25GW addition, solar power capacity comprised 21GW.

India’s total solar power capacity stands at about 103GW.

However, the signing of PPAs have been lagging with reports suggesting PPAs for over 40GW of renewable power projects yet to be signed.

Speaking to reporters recently, the Union minister for new and renewable energy Pralhad Joshi recently said the Centre is working with states and discoms to sign PPAs for green projects and ease the backlog.