Hindustan Power wins 100 MW solar project from Punjab State Power Corporation, to sign 25-year PPA

New Delhi [India], April 23 : Hindustan Power has secured a 100 MW AC solar power project from Punjab State Power Corporation Limited, which will be developed in Punjab, the company said in a statement on Thursday.

The project, which translates to approximately 140-150 MWp of solar capacity, 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 enter into a 25-year Power Purchase Agreement (PPA) with PSPCL, providing long-term revenue visibility while contributing to clean energy supply in the state. The project is expected to be commissioned within 24 months from the effective date of the PPA.

The company said the addition of this project will further expand its renewable energy portfolio and strengthen its presence in Punjab, which remains an important market with steady demand for reliable and clean power.

Commenting on the development, Ratul Puri, Chairman of Hindustan Power, said the project aligns with the company's strategy of participating in competitive bids with a focus on pricing discipline and execution capability.

"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," he said.

He added that the project would help the company contribute to Punjab's energy mix while strengthening its operational footprint in the region.

"The long-term PPA provides a stable foundation for investment and enables us to plan execution with greater certainty. Our priority will be to deliver the project on schedule and ensure consistent performance over its lifecycle," he said.

Hindustan Power said it continues to build a diversified pipeline of renewable energy projects, with a focus on disciplined growth and execution. The company is also looking to identify opportunities that offer long-term stability while supporting the transition towards cleaner energy sources in India.

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