Hindustan Power, an Indian Renewable Energy firm, is aggressively expanding its global solar portfolio. The company acquired 15 solar power generation projects in Japan and is poised to enter the emerging market of Bangladesh with four solar projects of 25 MW each.
The company stated in a release that it is set to increase its footprint in international markets to 2 GW by 2022. The company has submitted the proposal to develop four solar projects to the Government of Bangladesh and the required land agreement has been signed. Construction is expected to begin in six months’ time.
“We are one of the early Indian players to focus on developing solar projects in the overseas markets. We have invested close to Rs.30 billion (~$0.466 billion) and the target of 2 GW would entail an investment of Rs.100 billion (~$1.55 billion). We believe that our successful foray will encourage more players from India to expand its operations in the international markets thereby allowing India to emerge as a solar power house,” stated Ratul Puri, Chairman, Hindustan Power.
Image Credit: Hindustan Power
Priya currently serves as the Publisher for MercomIndia.com. With more than a decade of experience working in corporate communications, research, and policy, Priya has deep roots in the Indian energy markets and is regularly in touch with policy makers and industry leaders. Priya received her bachelor’s degree from Vidya Vardhaka College of Arts in Bangalore, India for Political Science and Economics and completed her MBA from Bangalore University. More articles from Priya Sanjay.