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 led by Ratul Puri 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.
Chairman Ratul Puri said the company’s priority is to deliver the project on schedule and ensure consistent performance over its lifecycle.
The 150 MWp solar project in Punjab highlights Ratul Puri’s growing role in India’s renewable energy sector. This solar power project in Punjab strengthens Hindustan Power’s renewable portfolio and supports India’s clean energy transition by adding large-scale solar capacity (MWp) to the grid.
Hindustan Power, led by Ratul Puri, is actively investing in utility-scale solar projects and renewable energy infrastructure in India. Through projects like the Punjab solar project, the company contributes to green energy development, carbon reduction, and long-term sustainable energy solutions.
A Power Purchase Agreement (PPA) is a long-term contract between a power producer and a buyer, such as Punjab State Power Corporation Limited (PSPCL). In Ratul Puri’s project, the 25-year PPA ensures stable revenue while supporting renewable energy investments in India.
Large projects such as this are typically awarded through competitive bidding and e-reverse auctions. In this process, companies like Hindustan Power compete to offer the lowest tariff, ensuring cost-effective solar energy development in India and transparency in energy infrastructure projects.
In solar energy, MW (megawatt) refers to actual power output, while MWp (megawatt peak) indicates the maximum potential capacity under ideal conditions. Ratul Puri’s project has 100 MW AC capacity but requires around 150 MWp solar installation, which is standard in utility-scale solar projects in India.
