Chapter 1
The Hindustan Power project involves a long-term Power Purchase Agreement (PPA) with Uttar Pradesh Power Corporation Limited (UPPCL) which it won through a tender in 2025.
Hindustan Power, has achieved financial closure with the Indian Renewable Energy Development Agency (IREDA) for a debt of ₹1,135 crore. In a press release, Hindustan Power, an integrated power producers said the project involves a long-term Power Purchase Agreement (PPA) with Uttar Pradesh Power Corporation Limited (UPPCL) which it won through a tender in 2025.
The Ratul Puri led firm secured the financing for this project after around a year from commencing work on the 435 megawatt peak (MWp) solar power project in Lalitpur, Uttar Pradesh. It won this tender from Uttar Pradesh Power Corporation Ltd (UPPCL) in April 2025. The power from this project is exceted to be supplied from Lalitpur solar project for the next 25 years.
The project is among the largest solar projects being developed in Uttar Pradesh and will contribute towards meeting the state’s growing energy requirements through clean power generation. With work now underway, the project is progressing as per the planned development schedule and is set to strengthen Uttar Pradesh’s growing renewable energy capacity.
Leadership View
Commenting on the development, Ratul Puri, Chairman, Hindustan Power, said, “The 435 MWp solar projects in Uttar Pradesh marks an important milestone in our renewable energy expansion. 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. We are pleased to contribute to this journey through a project of this scale and remain focused on its timely execution.”
Ratul Puri further added, “The project reflects our long-term commitment to developing large-scale renewable energy infrastructure that can support India’s evolving energy needs. As the country accelerates its energy transition, our focus remains on building reliable, efficient and sustainable generation capacity while contributing to long-term energy security.”
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.
The similar news is covered by:
Saur Energy: https://www.saurenergy.com/solar-energy-news/up-hindustan-power-achieves-financial-closure-of-rs-1135-cr-for-its-435-mwp-solar-project-12398546
PV Magazine: https://www.pv-magazine-india.com/2026/08/20/ratul-puri-led-hindustan-power-achieves-financial-closure-of-inr-1135-crore-for-its-435-mwp-solar-project-in-uttar-pradesh/
Business Standard: https://www.business-standard.com/companies/news/hindustan-power-announces-closure-of-1-135-cr-for-solar-project-in-up-126082000638_1.html
Energetica: https://www.energetica-india.net/news/hindustan-power-achieves-financial-closure-for-435-mwp-solar-project-in-uttar-pradesh
Money Rediff:https://money.rediff.com/news/market/hindustan-power-secures-rs-1-135-cr-for-up-solar-project/52839620260820
Solar Quarter:
https://solarquarter.com/2026/08/20/hindustan-power-achieves-financial-closure-for-435-mwp-solar-project-in-uttar-pradesh/
Daily Excelsior: https://www.dailyexcelsior.com/hindustan-power-announces-rs-1135-cr-financial-closure-for-solar-project-in-up/
Freepress Journal:
https://www.freepressjournal.in/business/hindustan-power-announces-1135-crore-financial-closure-for-solar-project-in-uttar-pradesh
Economic Times: https://m.economictimes.com/industry/renewables/hindustan-power-announces-rs-1135-crore-financial-closure-for-solar-project-in-up/amp_articleshow/133372017.cms
DailyHunt: https://m.dailyhunt.in/news/india/english/pti+english-epaper-ptien/hindustan+power+announces+rs+1135cr+financial+closure+for+solar+project+in+up-newsid-n723959411
Renewable Mirror:
https://www.renewablemirror.com/ratul-puri-led-hindustan-power-achieves-financial-closure-of-%e2%82%b91135-crore-for-its-435-mwp-solar-project-in-uttar-pradesh/
Power Technology:
https://www.power-technology.com/news/hindustan-power-financing-435mwp-solar-india/
MVA Pulse:
https://www.mvapulse.com/hindustan-power-secures-%E2%82%B91135-crore-for-435-mwp-solar-project/
