Assam to host 200 MW of clean energy projects led by Ratul Puri’s INR 620 crore investment

Hindustan Power, a leader in renewable energy focusing on the Indian market, has signed a Memorandum of Understanding (MoU) with the Government of Assam to invest INR 620 crore (US$ 70.96) in renewable energy projects. The company, led by Ratul Puri, signed the MoU for its upcoming 100 MW battery energy storage facility and 100 MW solar plants in Assam.

Hindustan Power's ambitious 5 GW goal

The agreement was formalised during the Advantage Assam 2.0 Investment and Infrastructure Summit held in Guwahati. Hindustan Power aims to build a 5 GW energy portfolio within the next three years, with its investment in Assam playing a key role in this growth.

Ratul Puri, Chairman, Hindustan Power, said, “We are proud that Hindustan Power was the first company to develop a large solar power plant in Assam in the year 2016, and the company remains committed to drive the state’s journey of growth in the new era of renewable energy. Assam’s dynamic landscape presents incredible opportunities, and we are excited to deepen our commitment to the state, harnessing its vast potential and contributing to its ambitious renewable energy goals. I extend my congratulations to our Chief Minister Himanta Biswa Sarma Ji, whose visionary leadership has propelled Assam toward remarkable progress, making the state a thriving destination for investment and growth.”

The company plans to develop a 100 MW solar power plant and a 100 MW battery energy storage system, investing INR 500 crore in the solar facility and INR 120 crore in the storage system. Hindustan Power pioneered India's first 5 MW solar power plants and Asia's first 30 MW renewable energy project. The company has successfully delivered projects across India, Germany, Italy, Japan, the UK, and the US.

Other significant solar projects in India

India is currently the world's fourth-largest electricity consumer, with demand set to rise by 8 per cent this year and potentially grow by 10 per cent annually in the years ahead. To meet this increasing demand sustainably, the government is encouraging companies to expand renewable energy capacity, strengthen grid infrastructure, and enhance energy efficiency. Some of the other solar projects in India are:

• Servotech Power Systems Limited (SPSL) has secured a contract to develop a 2-megawatt (MW) on-grid solar project awarded by the Uttar Pradesh New and Renewable Energy Development Agency (UPNEDA).
• Acciona Energía unveiled plans to build a 412 MWp solar project in Rajasthan, India, slated for completion in 2025. The solar farm will feature around 750,000 photovoltaic modules, each with a capacity of 545 Wp.
• First Solar, in partnership with Cleantech Solar, has signed a 15-year power purchase agreement to develop 150 MW of solar and 17 MW of wind capacity in Tamil Nadu. With this latest agreement, Cleantech Solar's portfolio size in Tamil Nadu now stands at nearly 500MW across operations and construction stages, including solar, wind, and hybrid power projects.

India added 9.7 GW of solar PV capacity

Aluminium plays a crucial role in clean energy technologies, particularly in solar power, making up nearly 85 per cent of photovoltaic (PV) components. As per the report published by the Ministry of New and Renewable Energy, India has achieved a significant milestone in its renewable energy journey, with the country's total renewable energy capacity surpassing 200 GW. In 2023 alone, India added 9.7 GW of solar PV capacity, ranking fifth globally for new installations and bringing cumulative solar capacity to 72.7 GW by year-end.

As of October 2024, the country's total electricity generation capacity reached 452.69 GW, with renewable energy contributing over 46.3 per cent of the overall power mix. Solar power leads this transformation, with an installed capacity of 92.12 GW, highlighting India's commitment to leveraging its vast solar potential.  As per AL Circle's Outlook report, renewable energy sources are projected to constitute 45 to 50 per cent of the global power supply by 2030, rising to 60 to 70 per cent by 2040. As India accelerates its clean energy transition, aluminium emerges as a crucial driver of innovation across energy storage, transportation, and infrastructure.

According to ICRA, India's installed renewable energy capacity is projected to rise to approximately 170 GW by March 2025, up from 132 GW in October 2023. Solar power will drive the majority of this growth, with capacity expected to increase to 104 GW by March 2025. New solar installations are estimated at 17 GW in fiscal year 2024 and 20 GW in fiscal year 2025, reinforcing solar's pivotal role in India's clean energy future.