Ratul Puri and Hindustan Power’s Growing Solar Presence in Uttar Pradesh

Uttar Pradesh is steadily expanding its solar power base, with the state looking to make greater use of its considerable renewable energy potential. The opportunity is substantial. Invest UP currently puts the state’s solar potential at 23 GW and lists 2,632 MW of solar capacity as already installed. The state is also pursuing utility-scale projects, rooftop systems and distributed generation as part of its broader solar strategy.

The market is developing across different segments. In the second quarter of 2026, Uttar Pradesh was among the three leading states for rooftop solar additions in India, accounting for 18% of quarterly installations. The state also recorded 23% year-on-year growth in rooftop solar capacity between Q2 2025 and Q2 2026, according to Mercom India.

It is in this larger market that Hindustan Power’s 435 MWp/300 MW solar project in Lalitpur has reached a significant financing milestone. The project, which was awarded to the company through competitive bidding in 2025, has now achieved financial closure with the Indian Renewable Energy Development Agency (IREDA) sanctioning ₹1,135 crore in debt.

The project also has a long-term Power Purchase Agreement with Uttar Pradesh Power Corporation Limited (UPPCL), providing a clear offtake arrangement for the electricity it will generate. With financing secured and work already underway, the Lalitpur project is moving ahead according to its planned development schedule.

For Ratul Puri, Chairman of Hindustan Power, the Lalitpur project represents more than an addition to the company’s renewable portfolio. It reflects the opportunity emerging in a state where solar is becoming an increasingly important part of the power landscape.

“The 435 MWp solar project in Uttar Pradesh marks an important milestone in our renewable energy expansion,” Ratul Puri said.

He added, “Uttar Pradesh is experiencing growing energy demand alongside an increasing focus on renewable energy, and projects of this scale will play an important role in strengthening the state’s clean energy capacity."

The significance of the Lalitpur project also lies in its scale. At 435 MWp, it is among the larger solar installations being developed in Uttar Pradesh. Its location in Lalitpur places it within the broader Bundelkhand region, which has emerged as an important area for solar development. The state’s solar policy has also envisaged utility-scale projects and solar parks, supported by transmission infrastructure designed to facilitate the evacuation of power from the region.

This wider ecosystem matters because adding solar capacity is only one part of building a functional renewable power market. Financing, transmission, power purchase arrangements and project execution all have to move together. The Lalitpur project brings these elements together through its IREDA-backed financing, PPA with UPPCL and ongoing construction.

For Hindustan Power, the development fits into a broader expansion across renewable and transitional energy. The company has been pursuing sizeable power infrastructure projects while building its presence across different segments of India’s electricity sector.

Uttar Pradesh’s policy direction provides further context. The state’s Solar Energy Policy 2022 targets 22,000 MW of solar projects by 2026-27, including 14,000 MW from utility-scale projects and solar parks, alongside rooftop and distributed generation.

Against this backdrop, the Lalitpur project represents a practical stage in the state’s solar journey. It has moved beyond the award stage, secured financing and entered execution.

Ratul Puri Chairman said the project also reflects Hindustan Power’s longer-term approach to renewable infrastructure. As India’s power system continues to evolve, he added that the company remains focused on developing “reliable, efficient and sustainable generation capacity” while contributing to long-term energy security.

The Lalitpur project is therefore best viewed as part of a wider shift taking place in Uttar Pradesh. The state is building a solar market that spans utility-scale plants, rooftop systems, distributed generation and supporting infrastructure. Hindustan Power’s project adds another sizeable asset to that expanding ecosystem, while its financial closure marks a clear step forward in turning an awarded project into operating renewable capacity.

About Ratul Puri

Ratul Puri is the Chairman of Hindustan Power, an integrated power generation company with a strong presence in renewable and transitional energy generation. Over the years, Ratul Puri has been involved in the development of large-scale energy infrastructure projects that support India’s growing power requirements and its transition toward cleaner energy sources.

About Hindustan Power

Hindustan Power is an integrated power generation company with a presence across renewable and transitional energy assets. The company continues to invest in energy infrastructure that supports reliability, sustainability and long-term value creation within India’s evolving power sector.