Hindustan Power has completed financial closure for a 435MW-peak (MWp)/300MW solar power project in the Lalitpur district of Uttar Pradesh (UP), India.
The Indian Renewable Energy Development Agency (IREDA) has sanctioned a debt facility of Rs11.35bn for the project.
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Construction of the solar plant is already under way, in line with the planned development schedule.
The project is structured to provide green electricity to Uttar Pradesh Power Corporation Limited (UPPCL) under a long-term power purchase agreement (PPA).
Hindustan Power secured the project through a competitive tender process in 2025.
The project ranks among the largest solar initiatives currently being developed in UP.
It is expected to help meet the state’s growing demand for electricity generated from renewable sources.
Hindustan Power chairman Ratul Puri said: “The 435MWp solar project in Uttar Pradesh marks an important milestone in our renewable energy expansion.
“Uttar Pradesh is experiencing growing energy demand alongside an increasing focus on renewable energy, and projects of this scale will play an important role in strengthening the state’s clean energy capacity.
“We are pleased to contribute to this journey through a project of this scale and remain focused on its timely execution. The project reflects our long-term commitment to developing large-scale renewable energy infrastructure that can support India’s evolving energy needs.
“As the country accelerates its energy transition, our focus remains on building reliable, efficient and sustainable generation capacity while contributing to long-term energy security.”
Hindustan Power said that the development forms part of the company’s wider strategy to expand in renewable and transitional energy generation.
The company has been increasing its focus on large-scale infrastructure projects as part of its commitment to supporting India’s rising energy requirements and the broader energy transition.
Hindustan Power is an integrated power generation company based in India, operating across both renewable and transitional energy sectors.
