The projects, scheduled to come online this year, will see an investment of INR 400 crores from the company. The two plants set to be built in Punjab are predicted to generate around ~46 million units per year of clean energy. The Uttar Pradesh project is predicted to ~32 million units. The two solar projects in Punjab will be 15 MW each, while the Uttar Pradesh will be a 20 MW project.
Ratul Puri, chairman of Hindustan Powerprojects, said, "The company would invest INR 400 crores towards commissioning of the projects and more importantly, we will be the first Indian solar developer to have installed over 500 MW of solar farms in next few quarters. Our focus has been on developing mid-large scale solar farms as they are sound investments for all stakeholders. In a short span, we have invested approx INR 5,500 crores in developing solar farms which showcases our intentions in growing solar sector."
The Indian developments follow predictions made by Bridge to India in January that the two regions would be among many signing PPAs in the first quarter of 2014. Solar capacity within the country is expected to reach 750 MW this year and takes place in a national climate of investment and criticism. PV Magazine reported yesterday that The National Solar Energy Federation of India had written to the Ministry of New and Renewable Energy (MNRE), alongsie the Solar Energy Corporation of India, to protest at what it saw as "perceived quality issues" with Indian-made technology fuelling wider funding problems.
However, the same MNRE was reported the day before as discussing plans to introduce a separate policy support scheme for Public Sector Undertakings interested in developing their own solar PV projects.
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