Hariom Pipe Industries Enters RE with 60 MW Solar Project in Maharashtra

Hariom Pipe Industries Ltd. (HPIL) has received a Letter of Award (LoA) for developing a 60 MW (AC) solar power project under the 'Mukhyamantri Saur Krushi Vahini Yojana 2.0,' a feeder-level solarisation initiative under Component C of the PM-KUSUM scheme.

With this, the firm has ventured into the renewable energy sector. The project has been awarded by the Maharashtra State Electricity Distribution Company Ltd. (MESDCL).

As per the agreement, HPIL will act as the Solar Power Developer (SPD) and undertake the complete process of ownership, financing, development, designing, engineering, procurement, construction, commissioning, and operation and maintenance of the project. The Power Purchase Agreement (PPA) has been set at a fixed tariff of INR 2.96 per kWh for 25 years, with an additional INR 0.25 per kWh incentive for the first three years upon timely commissioning of the project. The project will also receive a subsidy of INR 1.05 crore per MW.

The contract mandates that the power generated from the 60 MW solar plant will be purchased by MESDCL for the next 25 years from the scheduled commercial operation date. The project is expected to be completed within 18 months.

With this project, HPIL has officially expanded into the renewable energy sector, aligning with its commitment to sustainability and clean energy solutions.