Hindustan Powerprojects plans 2 GW of solar, other renewables in 2 yrs
Solar PV plant. Featured Image: Gilles Paire/Shutterstock.com
Dec 26, 2014 - Indian power producer Hindustan Powerprojects Pvt will spend INR 120 billion (USD 1.9bn/EUR 1.55bn) to build 2 GW of clean energy capacity, mainly solar, over the coming two years, daily The Economic Times said today.
Chairman Ratul Puri told the paper that the company will also pour INR 50 billion into conventional power plants over the same period. He explained that investment in thermal power generation capacity is usually spread out over a longer period of time, since the construction of these plants takes more time.
Puri believes that in the 2017-2022 period India can add 100 GW of solar power capacity and only 50 MW of coal-fired plants.
Hindustan Powerprojects already has 500 MW of solar parks. In the last three years it has spent some INR 140 billion-150 billion on power generation capacity, spread almost equally between solar and coal-fired power. It also has hydropower plants in its portfolio.