With the aim to cater the solar power needs of India, Hindustan Powerprojects Pvt Ltd (HPPPL) is looking forward to offering public issue by next year. The Chairman of HPPPL, Ratul Puri told concerned media authorities as of late that the private sector power producer will go with Initial Public Offering (IPO) next year.
While commissioning the first phase of Anuppur thermal power plant in Anuppur district of Madhya Pradesh, Ratul Puri said, “The time and size of the public issue will depend on the company’s funding requirement.”
Hindustan Powerprojects invested almost Rs 8,000 crore in building the thermal power plant at Anuppur, where 1,200 MW of power will be generated at phase one. The generated power at Anuppur plant will be majorly sold to Madhya Pradesh and Uttar Pradesh at the nominal rate of Rs 3.80 per unit.
has the aim to generate 5,000MW of energy by the year 2017 and the power giant has already commissioned 400 MW worth of solar power projects across the globe, out of which 250 MW was commissioned in India only.
Last year HPPPL planned Initial Public Offering to ensure liquidity for the company’s private equity investors. Prior to that, the power player was targeting to raise funds for its renewable energy projects as it was planning to sell off the shares of Hindustan Clean Energy, through an initial public offer (IPO) only. Hindustan Clean Energy is a subsidiary of Hindustan Powerprojects. Concerned media was informed that the amount raised from that IPO, i.e. $ 1 billion, was supposed to be utilised for attaining the company’s goal of combined 1,000 MW of solar photovoltaic (PV) power generation capacities in and around India.
HPPPL traces back its inception to the year 2008 and till date, the renewable energy-focused organisation has established solar plants from length to breadth of India and the states that it has covered, include Gujarat, Rajasthan, Tamil Nadu and West Bengal.