Hindustan Powerprojects to build 15 solar projects aggregating 150MW in Japan

Hindustan Powerprojects Private Limited has obtained the rights to build 15 solar power generation projects aggregating 150 MW in Japan. The bids for the projects were invited by the country’s Ministry of Economy, Trade and Industry. The upfront payment for the deal is $100 million (about Rs 6.6 billion) and the company will invest another Rs 15 billion in the development of the projects. The projects will be commissioned in 2017-18. Further, the company plans to foray into Bangladesh and has submitted a proposal to build four 25 MW solar projects at Trishal. The land agreement for the project has already been signed with the Bangladesh government. This is in line with the company’s plans to increase its capacity in international markets to 2 GW by 2022.

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