New Delhi: Hindustan Power has achieved financial closure for its 435 MWp/300 MW solar power project in Lalitpur, Uttar Pradesh, with the Indian Renewable Energy Development Agency (IREDA) sanctioning a debt facility of ₹1,135 crore.
The project was awarded to the company through a competitive bidding process conducted by the Uttar Pradesh Power Corporation Limited (UPPCL) in 2025. It is backed by a long-term power purchase agreement with UPPCL.
Project to Add 300 MW of Contracted Solar Capacity
The Lalitpur project has a 435 MWp installed capacity, corresponding to 300 MW of contracted capacity.
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Key details include:
- Location: Lalitpur district, Uttar Pradesh
- Solar capacity: 435 MWp
- Contracted capacity: 300 MW
- Debt financing: ₹1,135 crore
- Lender: IREDA
- Power purchaser: UPPCL
- PPA duration: 25 years
Hindustan Power had commenced work on the project in July 2025 after establishing its project office in Lalitpur.
Ratul Puri on Uttar Pradesh Solar Expansion
Hindustan Power Chairman Ratul Puri said the project marks a milestone in the company’s renewable energy expansion.
“The 435 MWp solar project in Uttar Pradesh marks an important milestone in our renewable energy expansion.”
Puri said Uttar Pradesh is experiencing rising energy demand alongside a growing focus on renewable energy, adding that projects of this scale would strengthen the state’s clean-energy capacity.
He further said the company remains focused on developing large-scale renewable energy infrastructure and building generation capacity as India advances its energy transition.
Project Progress
Hindustan Power had earlier said the Lalitpur project would supply clean electricity to Uttar Pradesh under its 25-year PPA with UPPCL. The company had also said construction and mobilisation activities would include site development and coordination with local stakeholders.
The latest financial closure provides the project with the sanctioned debt financing required as development progresses.
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