Chandigarh, April 23
Hindustan Power has secured a contract from the Punjab State Power Corporation Limited to develop a 100 MW solar power project in Punjab, the company said on Thursday. The project was awarded through a competitive tariff-based bidding process, followed by an e-reverse auction, a mechanism often used to ensure cost efficiency in large-scale energy contracts.
Under the agreement, the company will sign a 25-year power purchase deal with the state utility, ensuring a long-term revenue stream while contributing to Punjab’s shift towards cleaner energy sources.
The solar plant is expected to be completed within two years of the agreement coming into effect. Company chairman Ratul Puri said Punjab continues to be a key market due to its consistent demand for reliable electricity. He added that the project would strengthen the company’s presence in the region while supporting the state’s growing renewable energy needs.
Hindustan Power operates across India with a focus on renewable and transitional energy, and the new project is seen as part of broader efforts to expand solar capacity in the country.
