Hindustan Powerprojects aims to increase its solar power generation capacity from 800 MW today to 2 GW by 2022. It expects to invest 100 billion INR ($1.55 billion) into its solar business.
- Hindustan Power has acquired 15 solar power projects in Japan; newspaper reports suggest this stands for 150 MW PV capacity
- The company has plans to enter the Bangladesh solar market with four projects of 25 MW capacity each
- Construction on Bangladesh projects is likely to start in the next couple of quarters
- The company expects to invest 100 billion INR ($1.55 billion) to develop global total solar capacity of 2 GW by 2022
As part of its international solar strategy, Hindustan Powerprojects has acquired projects in Japan and is planning to enter Bangladesh.
The Indian independent power producer has bought 15 solar power generation projects in Japan, which according to the The Economic Times (ET) have a total capacity of 150 MW and required an investment of $100 million. In Bangladesh it wants to develop four projects of 25 MW capacity each in Trishal region. Internationally, the target is to increase its footprint to 2 GW by 2022, up from the current 800 MW.
“The proposal to develop 4 x 25 MW solar projects has been submitted to Government of Bangladesh and the required land agreement has already been signed,” said Lalit Jain, CEO of International Solar team. Adding, “We will take these projects into construction in the next couple of quarters.”
A diversified power producer in the fields of renewables, thermal, hydro, mining and EPC services, Hindustan Power has a total portfolio of 6 GW under various stages. Based in New Delhi, it has executed projects in Lauta, Germany (25 MW), Sardinia in Italy, along with the UK and the US.
“We are one of the early Indian players to focus on developing solar projects in the overseas markets,” said Ratul Puri, Chairman of Hindustan Power.
The company has invested close to 30 billion INR ($465.48 million) so far and its 2 GW target would entail an investment of 100 billion INR ($1.55 billion), he said. “We believe that our successful foray will encourage more players from India to expand its operations in the international markets thereby allowing India to emerge as a solar power house,” he added.