Hindustan Energy has received a 425 MWp (megawatt peak) solar energy undertaking from Uttar Pradesh Energy Corp. Ltd (UPPCL) by way of a tariff-based aggressive bidding course of.
A megawatt-peak is a unit used to explain the utmost energy output of solar energy programs in an excellent situation.
The letter of award (LoA) was issued by UPPCL following an e-reverse public sale, as part of its 2,000MW grid-connected photo voltaic PV energy procurement initiative, mentioned an organization assertion on Thursday.
The undertaking developed by Hindustan Energy will provide energy to UPPCL at a set tariff over a 25-year interval in keeping with the facility buy settlement (PPA).
The undertaking is predicted to be commissioned inside 24 months from the date of signing the PPA.
“We’re proud to contribute to Uttar Pradesh’s rising demand for sustainable power options and sit up for delivering yet one more world-class photo voltaic undertaking,” mentioned Ratul Puri, chairman, Hindustan Energy.
Puri added that the undertaking is a step in the direction of the corporate’s imaginative and prescient of attaining 5GW renewable power portfolio by 2028.
The expansion in renewable power initiatives within the nation has gained momentum over the previous few years, with the federal government focusing on to attain 500GW of non-fossil capability.
In FY25, India added 25GW of renewable power capability, the highest-ever inexperienced energy capability addition in a yr, registering a virtually 35% progress from the earlier fiscal. Out of the 25GW addition, solar energy capability comprised 21GW.
India’s whole solar energy capability stands at about 103GW.
Nonetheless, the signing of PPAs have been lagging with studies suggesting PPAs for over 40GW of renewable energy initiatives but to be signed.
Chatting with reporters lately, the Union minister for brand spanking new and renewable power Pralhad Joshi lately mentioned the Centre is working with states and discoms to signal PPAs for inexperienced initiatives and ease the backlog.
