Hindustan Power Bags 425 MWP Solar Power Project from Uttar Pradesh Power Corp. | Mint

Hindustan Power has a 425 mwp (megawatt peak) Solar Power Project from Uttar Pradesh Power Corp. Ltd. (UPPCL) won through a tariff -based competitive bidding process. A megawatt peak is a unit used to describe the maximum power output of solar systems in an ideal condition. The LoA Awards letter (LOA) was issued by UPPCL to an e-turned auction, as part of its 2,000 MW-linked Solar PV Power Procurement Initiative, a statement from the company said on Thursday. Also read: India’s power grid that faces warnings due to the sudden drop in solar generation The project developed by Hindustan Power will deliver the power to UPPCL at a fixed tariff over a 25 -year period according to the PAWE PAPA agreement (PPA). The project is expected to be commissioned within 24 months from the date of signing the PPA. “We are proud to contribute to Uttar Pradesh’s growing demand for sustainable energy solutions and look forward to delivering another world-class solar project,” said Ratul Puri, chairman, Hindustan Power. Puri added that the project is a step towards the company’s vision to achieve 5GW portfolio for renewable energy by 2028. The growth in renewable energy projects in the country has gained momentum over the past few years, with the government aimed at reaching 500GW of non-fossil capacity. In FY25, India added 25 GW of renewable energy capacity, the highest addition to green power capacity in a year, which registers an almost 35% growth of the previous fiscal. Of the 25GW addition, the solar capacity consists of 21GW. However, the signing of PPAs has deteriorated with reports indicating that PPAs for more than 40 GW of renewable power projects have yet to be signed. The Union Minister of New and Renewable Energy Pralhad Joshi recently spoke to reporters, recently said the center is working with states and discome to sign PPAs for green projects and facilitate the backlog.