Ratul Puri and Hindustan Power’s 435 MWp Lalitpur Solar Project

Uttar Pradesh is steadily expanding its solar energy ecosystem as the state works to make better use of its significant renewable energy potential. Invest UP estimates that the state has nearly 23 GW of solar potential, while installed solar capacity has reached 2,632 MW. Along with utility-scale projects, Uttar Pradesh is also promoting rooftop solar systems and distributed generation to create a more diversified clean energy network.

The growth of solar power is becoming visible across different segments of the market. During the second quarter of 2026, Uttar Pradesh ranked among India’s top three states for rooftop solar additions, accounting for 18% of total quarterly installations. According to Mercom India, the state also recorded a 23% year-on-year rise in rooftop solar capacity between Q2 2025 and Q2 2026, showing the increasing adoption of solar energy.

Against this backdrop, Hindustan Power’s solar project in Lalitpur has reached a significant milestone. The project was awarded through competitive bidding in 2025 and has now achieved financial closure after the Indian Renewable Energy Development Agency (IREDA) sanctioned ₹1,135 crore in debt financing.

The project is also backed by a long-term Power Purchase Agreement (PPA) with Uttar Pradesh Power Corporation Limited (UPPCL), providing a long-term offtake arrangement for the electricity generated by the project. With financing secured and construction already underway, the Lalitpur project is progressing according to its planned execution timeline.

For Ratul Puri, Chairman of Hindustan Power, the Lalitpur development represents an important opportunity within a state where solar power is becoming an increasingly important part of the electricity mix.

“The 435 MWp solar project in Uttar Pradesh marks an important milestone in our renewable energy expansion,” Ratul Puri said.

He further noted that Uttar Pradesh is seeing growing energy demand along with an increasing focus on renewable energy, adding that projects of this scale can contribute to strengthening the state’s clean energy capacity.

The scale of the Lalitpur project is another important aspect of its development. With a capacity of 435 MWp, it is among the larger solar installations being developed in Uttar Pradesh. Located in Lalitpur, the project is part of the wider Bundelkhand region, which is increasingly developing as a hub for utility-scale solar projects. Uttar Pradesh’s solar policy has also encouraged solar parks and large renewable energy projects, supported by transmission infrastructure for the evacuation of generated electricity.

Building renewable energy capacity requires more than the installation of solar panels. Financing, transmission connectivity, long-term power purchase agreements, and timely execution all need to progress together. The Lalitpur project brings these elements together through IREDA-backed financing, its PPA with UPPCL, and ongoing construction activities.

For Hindustan Power, the project forms part of a broader strategy to expand its renewable and transitional energy portfolio. The company continues to develop large-scale power infrastructure while maintaining a presence across different segments of India’s changing electricity sector.

The policy environment in Uttar Pradesh is also supporting this expansion. Under the Solar Energy Policy 2022, the state has set a target of developing 22,000 MW of solar capacity by 2026–27. This includes 14,000 MW through utility-scale projects and solar parks, along with further growth in rooftop and distributed solar generation.

Within this policy and market environment, the Lalitpur project represents a tangible step in Uttar Pradesh’s renewable energy journey. Having moved beyond the award stage, the project has secured financing and entered the execution phase, bringing it closer to becoming operational renewable energy capacity.

Ratul Puri Chairman said the project also reflects Hindustan Power’s long-term focus on renewable infrastructure. As India’s power sector continues to evolve, he emphasized the company’s focus on building “reliable, efficient and sustainable generation capacity” while contributing to the country’s long-term energy security.

The Lalitpur project is therefore part of the wider solar transition taking place across Uttar Pradesh. The state is developing an ecosystem that combines utility-scale solar plants, rooftop installations, distributed generation, and supporting infrastructure. Hindustan Power’s project adds another significant asset to this growing network, while its successful financial closure represents an important step toward converting an awarded project into operational renewable energy capacity.

About Ratul Puri:-

Ratul Puri is the Chairman of Hindustan Power, an integrated power generation company with a strong presence in renewable and transitional energy generation. Over the years, Ratul Puri has been involved in the development of large-scale energy infrastructure projects that support India’s growing power requirements and its transition toward cleaner energy sources.