Hindustan Power targets to raise Rs 6,000 cr over next two years to enhance solar power capacity

Hindustan Power is targeting to raise around Rs 6,000 crore over the next two years to add 5 -6 GW of solar power capacity.

"I think our goal to build out 5-6 GW of solar over the next five years both in India and outside India and that would be somewhere in the range of around a billion dollars (around Rs 6,000 crore) of equity," Hindustan Power Chairman Ratul Puri said on the sidelines of a function here.

"So, that would be raised over the next couple of years through internal cash generations and from external investors or potentially divesting some assets..potentially a combination of all these three," Puri said.

Asserting that there was nothing imminent in any area at present, Puri said that the company was just exploring opportunities at this juncture.
Replying to a question, he said, "I think we are always looking at different opportunities to raise capital to finance growth and there are always multiple opportunities that are available. And  selling part of our assets is one of those opportunities".

"So, I think there is something which is ongoing. Not just sale but we are looking at capital to fund growth," he added. The company's current capacity is 2,000 MW, of which 800 MW solar.