Hindustan Power announced on Monday that its plans to invest Rs 620 crore in advanced power and battery energy storage projects in Assam.
During the recent 'Advantage Assam 2.0' business summit, the company signed a memorandum of understanding with the state government to formalise the commitment.
"Marking a significant step towards advancing Assam's renewable energy landscape, Ratul Puri's Hindustan Power has signed a memorandum of understanding with the Government of Assam to invest Rs 620 crore in cutting-edge power and battery energy storage projects," a company statement said.
The investment will fund the development of a 100-MW solar power plant and a modern 100-MW battery energy storage system. Hindustan Power will allocate Rs 500 crore for the solar plant and Rs 120 crore for the battery storage facility.
These projects, developed in collaboration with the Assam government, aim to enhance the state's energy infrastructure and generate over 5,000 man-days of employment, fostering economic growth and job opportunities, the statement 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," Ratul Puri, chairman of Hindustan Power, said.
(With PTI inputs)
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