The clean energy arm of Hindustan Powerprojects has signed power purchase agreements (PPA) for the plants and the projects, which were won by the company through a competitive bid, are expected to go on stream during the current year, a statement from the company said.
These projects would help both Punjab and Uttar Pradesh with their initiatives to accelerate the pace of overall development in the states thereby making way for focus on renewable sector, the statement said.
“The solar projects in Punjab will generate around 46 million units per annum of clean energy, eliminating around 45,000 tonnes of carbon dioxide emissions. The one in Uttar Pradesh will be instrumental in generating about 32 million units per annum of clean energy, eliminating around 30,000 tonnes carbon dioxide emissions every year,” Ratul Puri, chairman, Hindustan Powerprojects, said.
“We have invested approximately Rs 5,500 crore in developing solar farms which showcases our intentions in growing solar sector,” he said.
Hindustan operates in four major verticals of the energy sector – solar power, hydropower, thermal power and mining services. The company plans to commission about 5,000MW of power over the next few years in the thermal, solar and hydropower sectors.