The economic growth of India over the past decades has been impressive. So much so that it is now among the highest in the world. A new city the size of London is added every year to India's urban population, resulting in vast investments in new factories, buildings, and transportation systems. The coal and oil industries have been the backbone of the country's industrial development, providing modern energy services to an increasing number of its citizens.
During COP26, the Indian Prime Minister, Narendra Modi, announced the country's commitment to a net-zero carbon-emission target by 2070 and targets to meet 50% of its energy requirements from renewable energy by 2030. Ahead of the conference, the UK announced a $1 billion investment from British Investment International into Indian green projects over the next five years and guaranteed $1 billion in World Bank lending to India. It is also worth mentioning that the Green Growth Equity Fund (GGEF), a joint investment of £120 million from both the UK and India, is now the largest single-country emerging market climate fund globally.
Hindustan Powerprojects Pvt Ltd (HPPPL) is one of the biggest power producers in the country that is committed to working in tandem with our communities by providing a cleaner and more sustainable environment.
When it comes to solar power, HPPPL has developed solar farms nationally and internationally. The Clean Energy division of the organization has commissioned India's first solar power plant of 5 MW and Asia's first of 30 MW. Additionally, through its Special Purpose Vehicle (SPV), its thermal arm is currently supplying 85% of the power generated to the distribution utilities in various cities. HPPPL is also exploring the possibility of setting up hydropower plants in North, North-East, and Nepal as India's hydropower sector grows rapidly.
Ratul Puri, Chairman of Hindustan Powerprojects (HPPPL), believes India needs robust growth in its energy sector, therefore the organization aims to develop a state-of-the-art thermal project capable of generating high efficiencies sustained over time.
In addition, Mr. Ratul Puri said that the country should increase its energy generating capacity in order to meet its developmental agenda. Further, he stated, "While focusing on expanding capacity, the company is also dedicated towards the vision of the Government."
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