Hindustan Power acquires 15 PV projects in Japan and will construct 4 plants in Bangladesh
Post date: 17/07/2017 - 17:49
Indian independent power producer Hindustan Powerprojects (Hindustan Power) has acquired 15 solar power generation projects in Japan totaling 150 MW capacity, and is poised to enter the emerging market of Bangladesh with 4 solar projects, each with a capacity of 25 MW. The company has submitted the proposal to develop the PV plants to the Government of Bangladesh and the required land agreement has been signed. Construction is expected to begin in six months’ time, says Mercom Capital Group.
The company targets to increase its renewable portfolio to 2GW by 2022 and will invest about INR 100 billion ($1.55 billion). Hindustan Power has already invested INR 30 billion ($465 million) in solar projects. The company has executed over 800 MW of solar power generation projects including international landmark projects like the 25 MW solar power plant in Lauta, Germany, Asia’s first 30 MW solar in Gujarat, India; a greenhouse rooftop in Sardinia, Italy among other projects in countries like Germany, Italy, Japan, UK and the US.
In March, Hindustan Cleanenergy Limited, the clean energy arm of Hindustan Powerprojects Private Ltd., energized a 10 MW solar plant at Shergati, Gaya, in the Indian state of Bihar to power the cumulative solar capacity in Bihar to about 100 MW.
Furthermore, in the same month Hindustan Power announced the commissioning of another solar power plant in Punjab at an investment of INR 3.2 billion ($50 million) with a capacity of 50 MW.