Hindustan Power

What Hindustan Power does

Hindustan Powerprojects Private Limited (Hindustan Power) is an Indian independent power producer and mining operator incorporated in 2008 and headquartered in New Delhi. The company operates across three segments: Transitional Energy (coal-based thermal generation led by the 2x600 MW Anuppur ultra-supercritical plant in Madhya Pradesh, 100% FGD-compliant since 2024), Renewable Energy (utility-scale solar PV, including a 100 MW Tamil Nadu plant and a 2025 pipeline of 1 GW solar plus 750 MWh battery energy storage), and Mining Operations (the Anjan Hill and Saunda-D coal mines, with a 2024 entry into critical minerals exploration in Madhya Pradesh). The company pioneered India's utility-scale solar sector, commissioning the country's first 5 MW solar plant in 2010 and Asia's first 30 MW solar PV project in 2011, and became India's largest solar producer in 2013.

The company generates revenue primarily through long-term Power Purchase Agreements (PPAs) with state utilities and government agencies, including UPPCL, SECI, APDCL, SJVN, PSPCL, and MPPMCL, with capacity charges and energy charges under regulatory tariffs. Pricing is not publicly disclosed and is governed by CERC and state regulatory frameworks. Go-to-market is enterprise field sales via competitive bidding for utility-scale power projects. The company maintains an integrated value chain—captive coal mining, thermal generation, and increasingly solar-plus-storage—that supports fuel security and cost competitiveness.

Hindustan Power employs 2,500+ people across India, operates a 4 GW built portfolio, and is led by Chairman Ratul Puri. The company is privately held with no disclosed institutional investors, family-office activity, or public-market presence. Recent strategic priorities include doubling Anuppur thermal capacity via a 2x800 MW Phase-II expansion (MoEF-cleared in April 2026 with an 800 MW PPA signed with MPPMCL), scaling the solar-plus-storage build-out, and developing the critical minerals franchise. The company also runs community programs (SAFAL livelihoods, AROGYA healthcare, TALEEM education, Project yUDAI) that support stakeholder relations in project-hosting regions.

Name

Hindustan Power

Legal name

Hindustan Powerprojects Private Limited

Website

https://hindustanpowerprojects.com

Company type

Private

Founded year

2008

Operating status

Operating

Headcount range

5,001–10,000 employees

Short description

Hindustan Power is a privately held Indian independent power producer and mining operator with a 4 GW built portfolio across coal-based thermal (Anuppur ultra-supercritical plant), utility-scale solar PV, battery energy storage, and coal/critical minerals mining, selling exclusively to state utilities and government agencies under long-term PPAs.

Ownership category

akta.pro rank

Product category

Independent Power Generation

NAICS

Solar Electric Power Generation (221114), Fossil Fuel Electric Power Generation (221112), Electric Power Generation (22111)

SIC

Electric Services (4911)

akta.pro primary industry

Renewable Distributed Generation (Rooftop/Onsite Solar, Small Wind, Small Hydro) (EUACALAJ)

akta.pro secondary industry

Power Generation Plant Construction (Thermal, Hydro, Nuclear) (IMAFADAC)

Keywords

• Independent power producer
• Solar power generation
• Thermal power generation
• Coal mining operations
• Energy storage solutions

Headquarters

HQ city

New Delhi

HQ country

India

HQ region

Asia

Offices3 records

Markets served

GTM type

B2B

Offering type

Services

Cost components

Infrastructure, Operations, Supply Chain, Personnel, Technology or R&D, Marketing or Sales

Revenue model

1. Power Generation and Supply: Generation and supply of electricity through long-term power purchase agreements (PPAs) with state utilities and government agencies. Revenue is generated from capacity charges and energy charges under these agreements.
2. Mining Operations: Coal mining operations including the Anjan Hill Coal Mine in Chhattisgarh and Saunda-D Coal Mine in Jharkhand, supporting domestic coal production and energy security. In 2025, entered critical minerals exploration with platinum-led minerals in Madhya Pradesh.

Go-to-market motion1 record

Distribution channels1 record

Marketing channels3 records

Core offering

Hindustan Power generates and supplies electricity through utility-scale solar photovoltaic plants (with integrated battery energy storage) and coal-based thermal power plants using ultra-supercritical technology. The company also conducts coal mining and critical minerals exploration to support its own fuel needs and the broader energy supply chain. Electricity is sold wholesale to state utilities and government agencies under long-term Power Purchase Agreements.

Product overview

Hindustan Power operates as an independent power producer with three core business segments: Transitional Energy (thermal power generation using coal with ultra-supercritical technology), Renewable Energy (solar power generation from utility-scale solar plants to battery storage solutions), and Mining Operations (coal mining and critical minerals exploration). The company pioneered India's solar energy sector, commissioned the country's first utility-scale solar plant, and has expanded into integrated solar-plus-storage solutions. The thermal business provides baseload power while renewables drive the clean energy transition.

Differentiator

Problem solved

Functional benefit

Products and services

• Utility-Scale Solar Power Generation Utility-scale solar photovoltaic power generation projects ranging from early pioneering 5MW plants to modern large-scale solar farms. Electricity is sold wholesale to state electricity boards and government agencies under long-term Power Purchase Agreements.
• Coal-Based Thermal Power Generation Coal-based thermal power generation using ultra-supercritical technology at the Anuppur plant in Madhya Pradesh, providing baseload power with 100% FGD (Flue Gas Desulphurization) compliance for emissions reduction. Power is supplied to state utilities under long-term PPAs.
• Coal Mining and Critical Minerals Operations Coal mining operations including the Anjan Hill Coal Mine in Chhattisgarh and the Saunda-D Coal Mine in Jharkhand, supporting domestic coal production and the company's own fuel security. In 2024, the company received a Letter of Intent to explore platinum-led critical minerals in Madhya Pradesh.

Quantifiable outcome

• Commissioned India's first utility-scale solar power plant (2010)
• +4 more outcomes

Named customers6 records

Segments3 records

Ideal customer profiles3 records

Technology focussed No

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Feature3 records

Scale indicators8 records

Recent moves6 records

Expansion highlights10 records

Broad incumbents

• NHPC Limited: Large Indian public-sector hydropower and renewable developer that also competes for solar and storage project awards from SECI and state utilities. Comparable as a long-tenure Indian IPP with diversified renewable pipeline.
• Tata Power: One of India's largest integrated power companies spanning generation (thermal, solar, wind, hydro), transmission, distribution, and rooftop solar. Broader in scope than Hindustan Power but directly competes in utility-scale solar tenders and state-utility PPAs.
• Torrent Power: Indian integrated power player with generation (thermal, solar, wind) plus licensed distribution in select states. Comparable on generation diversification and government-utility PPA exposure, though it also operates a retail distribution franchise.

Direct peers

• Adani Power: Largest private thermal power producer in India with a mixed thermal/renewable portfolio supplying state discoms under long-term PPAs. Directly comparable to Hindustan Power on customer base (state utilities), business model (IPP with PPAs), and technology mix (coal ultra-supercritical plus renewables expansion).
• GMR Energy: Indian IPP with thermal, hydro, and renewable assets operating under long-term PPAs with state utilities. Comparable on diversified generation portfolio, government counterparty exposure, and transition strategy from coal toward renewables.
• ReNew Power: Leading pure-play Indian renewable IPP with utility-scale solar, wind, and storage projects supplying C&I and government off-takers. Directly comparable in the SECI/state-utility solar-plus-storage auction market.
• Jindal Power (Jindal Steel & Power): Indian thermal IPP with captive and merchant coal exposure, competing in similar state-utility PPAs. Comparable on coal-based generation footprint, government-customer revenue base, and renewable expansion efforts.
• Reliance Power: Private Indian IPP with large coal-based thermal capacity and emerging renewable projects, also selling power to state distribution companies. Highly comparable on customer profile (state discoms), generation mix, and recent pivot toward solar capacity additions.
• JSW Energy: Indian IPP with thermal, hydro, and renewable assets competing in the same SECI/state-utility tender markets as Hindustan Power. Comparable on diversified generation mix, PPA-driven revenue model, and ongoing solar/wind capacity expansion strategy.
• Adani Green Energy: India's largest renewable IPP, operating multi-GW utility-scale solar, wind, and hybrid projects with state-utility and SECI PPAs. Most direct competitor in the 1 GW solar + storage tender segment where Hindustan Power is actively bidding.

Market position

Strengths5 records

Weaknesses5 records

Competitive moat5 records

Key risks7 records

Key highlights7 records

Customer concentration

• Xx.com/_hindustanpower

Compliance1 record

Revenue estimate

Valuation estimate

Number of profiles

Profiles1 record

Funding overview

Funding rounds1 record

Investors1 record

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A

Investments

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about Hindustan Power