NHPC to Develop 1200 MW Solar Park in Uttar Pradesh at a Cost of INR 797 Crore
NHPC Ltd. is set to develop a 1200 MW solar park in Uttar Pradesh's Jalaun district at an estimated cost of INR 796.96 crore through its subsidiary Bundelkhand Saur Urja Ltd. under MNRE’s ‘Ultra Mega Renewable Energy Parks’ scheme.
April 25, 2025. By Mrinmoy Dey
The solar park will be developed by Bundelkhand Saur Urja Ltd. (BSUL), a subsidiary of NHPC and a joint venture (JV) with Uttar Pradesh New and Renewable Energy Department Agency (UPNEDA). It is being developed under Mode 8 of Ministry of New and Renewable Energy (MNRE) Scheme named ‘Ultra Mega Renewable Energy Parks’, the company stated in a regulatory filing.
It further added that the estimated cost of INR 796.96 crore includes interest during construction (IDC) of INR 42.69 crore and equity investment of INR 239.09 Crore by NHPC in BSUL for development of the solar park.
The company plans to raise funds through issue of unsecured, redeemable, taxable, non-convertible, non-cumulative AF-Series bonds up to INR 2,000 crore in one or more tranche through private placement, as part of the borrowing plan for FY 2025-26.
NHPC aims to achieve a renewable energy capacity of 16,700 MW by 2030 and plans to increase its total installed capacity to 23 GW by 2032 and over 50 GW by 2047.
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