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Business
Hindustan Power Secures ₹1,135 Crore Funding for Uttar Pradesh Solar Project
✍️ Business Standard
🗓 20 Aug 2026, 07:38 PM
👁 1
Hindustan Power announced that it has closed a financing package worth ₹1,135 crore to develop a solar power project in Uttar Pradesh.
Hindustan Power, a leading renewable‑energy developer, said it has finalized a financing arrangement of approximately ₹1,135 crore for a new solar power venture in Uttar Pradesh. The funding, sourced from a consortium of banks and institutional investors, will be used to acquire land, install photovoltaic panels and connect the plant to the state grid.
The project is expected to add several hundred megawatts of clean electricity to the region, supporting both state and national renewable‑energy targets. Hindustan Power indicated that construction is slated to begin later this year, with commercial operations projected within the next 18‑24 months.
Industry analysts view the sizable investment as a vote of confidence in Uttar Pradesh’s solar potential, given the state’s high solar irradiance and supportive policies. The company did not disclose the exact capacity of the plant, but the scale of funding suggests a large‑scale utility project.
The announcement comes as India pushes ahead with its goal of achieving 450 gigawatts of renewable capacity by 2030, and Uttar Pradesh aims to become a major hub for solar generation. Hindustan Power’s move aligns with broader efforts to reduce dependence on fossil fuels and meet climate commitments.
Further details on the project's timeline, partners and expected output will be shared as the development progresses.
The project is expected to add several hundred megawatts of clean electricity to the region, supporting both state and national renewable‑energy targets. Hindustan Power indicated that construction is slated to begin later this year, with commercial operations projected within the next 18‑24 months.
Industry analysts view the sizable investment as a vote of confidence in Uttar Pradesh’s solar potential, given the state’s high solar irradiance and supportive policies. The company did not disclose the exact capacity of the plant, but the scale of funding suggests a large‑scale utility project.
The announcement comes as India pushes ahead with its goal of achieving 450 gigawatts of renewable capacity by 2030, and Uttar Pradesh aims to become a major hub for solar generation. Hindustan Power’s move aligns with broader efforts to reduce dependence on fossil fuels and meet climate commitments.
Further details on the project's timeline, partners and expected output will be shared as the development progresses.