Mumbai, April 30 -- NHPC has announced plans to develop a 1,200 megawatt (MW) solar park in Jalaun, Uttar Pradesh, with an estimated investment of Rs 7.969 billion.
The project will be implemented through Bundelkhand Saur Urja Ltd (BSUL), a joint venture between NHPC and the Uttar Pradesh New and Renewable Energy Development Agency (UPNEDA). The initiative forms part of the central government's Ultra Mega Renewable Energy Power Parks (UMREPP) programme, in line with guidelines issued by the Ministry of New and Renewable Energy (MNRE).
The total project cost includes an allocation of Rs 427 million towards interest during construction and equity infusion into BSUL. NHPC intends to fund the project partially through internal accruals, while the majority will be supported via borrowings.
In March 2025, NHPC's board approved a borrowing plan for the financial year 2025-26, authorising the company to raise up to Rs 63 billion in debt. Funding avenues include secured or unsecured redeemable non-convertible debentures (NCDs), term loans, or phased external commercial borrowings, aimed at supporting ongoing and upcoming projects.
The solar park is expected to enhance NHPC's renewable energy portfolio and contribute to India's broader clean energy transition goals.
Published by HT Digital Content Services with permission from Construction World.