Hindustan Power reached financial closure of ₹11.35 billion for 435 MWp Lalitpur solar power project

Hindustan Power has reached financial closure for a 435 MWp/300 MW solar project in Lalitpur, Uttar Pradesh, backed by ₹11.35 billion in debt sanctioned by IREDA. With construction underway and a long-term PPA with UPPCL, the project is positioned to add significant renewable generation capacity to the state.

Hindustan Power has reached financial closure for its 435 MWp/300 MW solar power project in Lalitpur, Uttar Pradesh, with the Indian Renewable Energy Development Agency (IREDA) sanctioning ₹11.35 billion in project debt. Construction is already underway and is progressing according to the planned development schedule.

The project is backed by a long-term Power Purchase Agreement (PPA) with Uttar Pradesh Power Corporation Limited (UPPCL), providing a contracted route for the sale of electricity generated by the facility. Hindustan Power secured the project through a competitive bidding process in 2025.

The financing milestone supports the continued development of large-scale renewable generation in Uttar Pradesh, where rising electricity demand is increasing the need for additional power capacity. At 435 MWp, the Lalitpur facility ranks among the larger solar developments currently being built in the state and is expected to expand its clean electricity supply.

For renewable energy developers, lenders and equipment suppliers, the project illustrates the continued role of structured debt financing and long-term power offtake agreements in advancing utility-scale solar assets. For Uttar Pradesh, the project adds generation capacity under a contracted framework, while the financing closure reduces a key funding hurdle as construction moves forward.

Hindustan Power is an Indian integrated power generation company active in renewable and transitional energy projects. IREDA is a Government of India enterprise focused on financing and promoting renewable energy projects across the country.