Hindustan Power to invest $71M in solar, battery projects in Assam
The investment will drive the development of a 100 MW solar power plant alongside a battery energy storage system, the Indian company said.
Hindustan Power has inked an agreement with the Assam government to invest INR 6.2 billion (around USD 71 million) to set up solar and battery storage projects in the northeastern Indian state.
The investment will drive the development of a 100 MW solar power plant alongside a battery energy storage system, the company said, according to a report by news agency PTI.
The company will invest INR 5 billion for the solar plant and INR 1.2 billion for the battery storage facility, it said.
Hindustan Power is an independent power producer with a global portfolio of renewable and transitional electricity generation assets, with a focus on the high growth Indian market.
“Hindustan Power was the first company to develop a large solar power plant in Assam in 2016, and the company remains committed to driving the state’s journey of growth in the new era of renewable energy,” the company’s chairman Ratul Puri said.
In February, Puri had shared his vision of achieving a 5 GW energy portfolio over the next three years. “The global energy sector is undergoing a transformational shift, and India stands at the forefront of this change. Hindustan Power is dedicated to advancing sustainable energy solutions while ensuring energy security and economic growth,” he said. “Our vision of achieving a 5 GW portfolio is proof of our commitment to building a cleaner and more resilient energy future.”
Other large players have also promised big-ticket investments in Assam. Indian electric utility Tata Power has pledged to invest INR 300 billion (USD 3.44 billion) over the next five years to support the deployment of up to 5,000 MW of renewable and clean energy projects in the state.
