Hindustan Power secures ₹1,135 crore funding for UP solar venture

Hindustan Power announced on Thursday that it has secured ₹1,135 crore in debt financing from the Indian Renewable Energy Development Agency (IREDA) for its 435 MWp/300 MW solar power project in Lalitpur district, Uttar Pradesh. The financial closure marks a significant milestone for the company's renewable energy expansion in the state.

The project was awarded to Hindustan Power through competitive bidding in 2025 and has entered the implementation phase in line with its planned development schedule. A long-term power purchase agreement is in place with Uttar Pradesh Power Corporation Ltd (UPPCL), securing off-take arrangements for the generated electricity.

The solar facility is positioned among the largest renewable energy projects currently under development in Uttar Pradesh. Officials stated that the project will contribute substantially to meeting the state's rising electricity demand while advancing its clean energy transition objectives.

Uttar Pradesh has been ramping up its renewable energy capacity to address growing power requirements across residential, industrial and commercial sectors. The solar project aligns with broader national initiatives to expand India's renewable energy infrastructure and reduce dependence on conventional power generation.