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Hindustan Power Bags 100 MW Solar Power Project from Punjab State Power Corporation

Hindustan Power has secured a 100 MW AC solar power project from Punjab State Power Corporation through a tariff-based competitive bidding process. The company will sign a 25-year PPA with PSPCL, and the project is expected to be commissioned within 24 months from the effective date of the PPA.

April 23, 2026. By Mrinmoy Dey

Hindustan Power has announced that the company has secured a 100 MW AC solar power project from Punjab State Power Corporation, to be developed in Punjab.

A project of this scale may require the installation of approximately 140-150 MWp of solar capacity. The project was awarded through a tariff-based competitive bidding process, followed by a successful e-Reverse Auction conducted on the ETS portal, the company stated.

Under the terms of the project, Hindustan Power will enter into a 25-year Power Purchase Agreement (PPA) with Punjab State Power Corporation, providing long-term visibility on revenues while supporting the supply of clean energy to the state. The project is expected to be commissioned within 24 months from the effective date of the PPA, the company stated.

Commenting on the development, Ratul Puri, Chairman, Hindustan Power, said, “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 further added, “Punjab remains an important market for us, with steady demand for reliable and clean power. Through this project, we aim to contribute meaningfully to the state’s energy mix while further strengthening our operational footprint in the region.”

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

With this addition, Hindustan Power continues to build a diversified pipeline of renewable energy projects, while maintaining a disciplined approach to growth and execution. The company remains focused on identifying opportunities that offer long-term stability and contribute to the broader shift towards cleaner energy sources in India, the company stated.

Tags:

Solar PV

Hindustan Power

Punjab State Power Corporation

Solar Project in Punjab

Ratul Puri