Should we support Ratul Puri's initiative of making India solar dependent?
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India’s pollution levels are way above dangerous. Ratul Puri, the Chairman of Hindustan Power Projects Pvt Limited (HPPPL) is already setting up solar parks across India to cut down toxic emissions.
There are not too many global investors who are willing invest in India’s solar projects. To combat this trend, domestic power companies like the HPPPL can help. Ratul Puri’s Hindustan Power is India’s leading power player. HPPPL had commissioned the country’s first 5-MW and 30-MW solar projects. Being a pioneer, it knows how badly India needs renewable energy like solar power.
Hindustan Clean Energy Ltd (HCEL), the renewable energy unit of HPPPL, had raised $130 million from two American investors. HCEL was set up by Ratul Puri in 2008 to develop renewable energy projects in India and other parts of the globe. Today, HPPPL has 600MW solar capacity spread across Tamil Nadu, Punjab, Gujarat, Assam and Uttar Pradesh.
Ratul Puri firmly believes that finance opportunities need to be created in India. The HPPPL chairman is of the opinion that renewable energy should look at new streams of finance. Till date, HPPPL has sold close to solar assets with capacity 400 MW to global retail funds. Ratul Puri’s innovation is seeking finance is emulative.
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