Hindustan Power, an independent power producer, commissioned a 50 MW solar project in Punjab. The project was being developed under Punjab Solar Policy Phase-III.
Hindustan Power commissioned its second solar power project in Punjab at a cost of Rs.3.25 billion (~$50 million). The commissioning of this 50 MW solar project increases the cumulative solar capacity of the company in Punjab to 80 MW.
According to Mercom’s India Solar Project Tracker, Hindustan Power won bid to develop the project by quoting a tariff of Rs.5.98 (~$0.092)/kWh. Hindustan Power has signed a 25-year power purchase agreement for the 50 MW project with Punjab State Power Corporation Limited (PSPCL).
“By comparing high-resolution solar resource data at various locations, we were able to identify, and secure investments at the most promising sites for solar PV projects in Punjab. Hence, we were able to invest ~Rs.5.25 billion (~$80.75 million) and quickly ramp up the cumulative capacity of the company in Punjab to 80 MW over the last nine months. Our plan is to incrementally commission 200 MW in Punjab over the next 18-24 months,” stated Mr. Ratul Puri, Chairman Hindustan Power.
According to Mercom’s India Solar Project Tracker, Hindustan Power has commissioned solar projects aggregating 198.43 MW and solar projects aggregating 230 MW are under various stages of development.