In an interview with Power Line, Ratul Puri, Chairman, Hindustan Power Limited, discussed the company's key focus areas, major milestones, energy transition initiatives and top strategic priorities. Edited excerpts… What is the outlook for Hindustan Power's business in the near and long term? Hindustan Power's near- and long-term outlook remains focused on scaling its renewable and transitional energy portfolio in line with India's evolving priorities. The company has outlined a road map to build a 5 GW energy portfolio by 2028, with growth anchored in renewable energy, grid-supportive transitional energy solutions and long-term infrastructure development. In the near term, the company is focused on structured capacity additions across key Indian states, supported by disciplined capital deployment, operational efficiency and timely project execution. The strategy is aligned with rising electricity demand, India's clean energy targets and the increasing need for reliable and resilient power infrastructure. From a long-term perspective, Hindustan Power aims to strengthen its position as a significant contributor to India's energy transition by building a diversified and sustainable energy portfolio. Why is India's energy transition shifting from renewable capacity addition to integrated What is the role of transitional power and flexible generation in supporting India's renewable energy ambition? India's renewable energy ambitions will require a balanced and reliable power ecosystem. While renewable capacity will continue to scale rapidly, transitional power and flexible generation will remain important in ensuring grid stability, meeting peak demand and supporting RTC electricity availability. The long-term direction remains towards cleaner energy systems, but a phased and balanced transition will be critical to supporting economic growth, industrial expansion and energy security. How do you view emerging opportunities in battery storage, green hydrogen and industrial decarbonisation? The “era of electricity”, as I describe it, is creating entirely new opportunities across battery storage, green hydrogen and industrial decarbonisation. The electrification of transportation, growth in data centres and rising industrial demand will require reliable and flexible power systems at scale. Battery storage is becoming one of the most important enablers of this transition. As renewable penetration increases, just building peak daytime energy is not going to solve the problem. The focus is now shifting towards storage combined with renewable energy, despatchable clean power and RTC energy solutions. Green hydrogen will also become increasingly relevant, particularly for hard-to-abate sectors and industrial decarbonisation. Over time, industries will look for cleaner and more competitive energy pathways as carbon markets evolve and clean energy adoption accelerates. What is your outlook for India's long-term electricity demand amid manufacturing expansion, electrification and AI-driven data centre growth? India's electricity demand is on a sustained upward trajectory, reinforced by both structural and cyclical factors. The recent heatwave conditions, such as in May 2026, have already pushed peak load to record levels of 270 GW, highlighting how climate stress is intensifying short-term consumption spikes alongside long-term growth trends. Beyond seasonal demand, the bigger shift is coming from economic transformation. Manufacturing expansion is increasing industrial power requirements, the electrification of mobility is creating new categories of demand and artificial intelligence-led compute growth is accelerating the need for large-scale, green energy. Together, these forces are reshaping India's power system from one that is primarily driven by peak seasonal variation to one that is defined by consistently rising base demand and higher RTC consumption needs. How can India advance energy security, affordability and sustainability simultaneously during its power transition? India's power system is expanding at a pace where balancing reliability, cost and decarbonisation has become essential rather than optional. Rising consumption from industrial growth, electrification and digital infrastructure is steadily increasing the need for continuous and scalable electricity supply. About Ratul Puri:- Ratul Puri is the Chairman of Hindustan Power, an integrated power generation company with a strong presence in renewable and transitional energy generation. Over the years, Ratul Puri has been involved in the development of large-scale energy infrastructure projects that support India's growing power requirements and its transition toward cleaner energy sources. This content is taken by this source: https://powerline.net.in/2026/07/10/hindustan-power-meeting-indias-rising-power-demand-with-integrated-solutions/

Q 1. Hindustan Power has been a pioneer in India's renewable energy sector. Can you take us through the company's journey and some of the key milestones that have shaped its growth? India's energy landscape has witnessed a remarkable transformation over the past two decades and Hindustan(https://www.energetica-india.net/powerful-thoughts/online/ratul-puri-23-04-2026) Power has been an integral part of that journey since its early stages. We entered the renewable energy sector when solar power was still an emerging technology and long before it became a central pillar of India's energy transition. Some of our early defining achievements include developing India's first 5 MW solar power project (2010) and Asia's first 30 MW solar PV project (2011). These projects were important not only because they broke new ground technologically, but because they demonstrated that large-scale renewable energy could be commercially viable and contribute meaningfully to the country's energy mix. As the sector evolved, so did our vision. We expanded our presence across renewable energy, transitional power generation and supporting infrastructure, building capabilities that allow us to address both sustainability and energy security requirements. In recent times, we have strengthened our focus on battery energy storage and integrated energy solutions, recognising that the future of the sector will be shaped by the reliable delivery of clean energy. Q 2. The company developed India's first 5 MW solar plant and Asia's first 30 MW solar PV project. How have these early achievements influenced your long-term strategy in clean energy? Those projects were significant in terms of their scale at the time and in demonstrating that renewable energy (https://www.ratulpuriinfo.com/) could transition from concept to commercial viability. Q 3. Hindustan Power is actively expanding into solar-plus-storage solutions. How do you see battery energy storage transforming the renewable energy landscape in India? At Hindustan Power(https://www.outlookbusiness.com/spotlight/news-wire/ratul-puri-led-hindustan-power-signs-power-supply-agreement-with-mp-power-management-company-limited-for-supply-of-800-mw-power), we see storage as a strategic growth area and a key enabler of the future electricity system. As of 2025, we had expanded our battery storage portfolio to more than 750 MWh across multiple states, including projects with SECI, SJVN and BSPGCL. These investments reflect our belief that solar-plus-storage will increasingly become the preferred model for delivering reliable, flexible and scalable clean energy in India. Q 4. The company operates across renewable and transitional energy businesses. How do you balance reliability, affordability, and sustainability while planning future projects? As India's power demand continues to grow, the transition must support economic development, industrial competitiveness and energy security. We therefore view renewable energy(https://thewire.in/ptiprnews/ratul-puri-charts-a-decisive-pivot-in-indias-energy-transition), energy storage and enabling infrastructure as complementary elements of an integrated energy ecosystem that can deliver sustainable, reliable and affordable power at scale. Q 5. Innovation and large-scale project execution have been central to Hindustan Power's success. What recent technological advancements or project developments are you most excited about? One of the most exciting developments in the energy sector today is the convergence of renewable energy, battery storage and advanced power infrastructure. The industry is moving beyond standalone generation assets towards integrated energy systems that can deliver cleaner, more reliable and more flexible power. From Hindustan Power's (https://thewire.in/ptiprnews/ratul-puri-charts-a-decisive-pivot-in-indias-energy-transition) perspective, the rapid scale-up of our battery energy storage portfolio is particularly encouraging. Storage is transforming the economics and operational capabilities of renewable energy by enabling firm and dispatchable power, which will become increasingly important as electricity demand continues to rise across industries, mobility and digital infrastructure. About Ratul Puri:- Ratul Puri (https://ratulpuri.mobirisesite.com/) is the Chairman of Hindustan Power, an integrated power generation company with a strong presence in renewable and transitional energy generation. Over the years, Ratul Puri(https://ratulpuri1.alboompro.com/) has been involved in the development of large-scale energy infrastructure projects that support India's growing power requirements and its transition toward cleaner energy sources. This content is taken by this source: https://www.renewablemirror.com/ratul-puri-says-hindustan-power-interview/

Ratul Puri(https://www.ratulpuriinfo.com/) shares insights on renewable energy, battery storage and the technologies shaping India's energy transition and future power needs. Renewable energy growth, battery storage systems and grid reliability are becoming increasingly important for meeting India's future energy needs, according to Ratul Puri. India's power sector is undergoing a significant transformation as rising electricity demand from manufacturing, digital infrastructure, data centres and emerging industries coincide with the country's expanding renewable energy ambitions. This evolving demand profile is increasing the importance of reliable power delivery, energy storage and grid flexibility across the sector. According to Ratul Puri (https://ratulpuri2.website3.me/), Chairman of Hindustan Power, the future of the sect or will be shaped not only by renewable energy generation but also by the ability to deliver power reliably and efficiently. As electricity demand continues to grow, storage, transmission infrastructure and grid resilience are becoming increasingly important components of India's energy transition. The Role of Technology and Innovation Technology continues to influence the way energy is generated, stored and delivered. Advancements in battery storage, solar-plus-storage solutions, digital asset management and operational optimisation systems are helping improve efficiency across the power sector. According to Ratul Puri, the industry is steadily moving beyond standalone generation assets towards integrated energy systems capable of delivering cleaner, reliable and more flexible power. Digital monitoring tools, predictive maintenance technologies and advanced operational systems are also helping improve the performance and reliability of energy infrastructure, supporting better utilisation of assets and improved operational efficiency. As electricity demand continues to increase, these technologies are expected to play a larger role in supporting efficient and dependable power delivery. Supporting India's Growing Power Requirements While renewable energy and storage are becoming increasingly important, dependable long-duration power supply remains essential for supporting industrial growth and rising electricity consumption. Reflecting this requirement, Hindustan Power recently signed a 25-year Power Supply Agreement with MP Power Management Company for the supply of 800 MW from its upcoming Anuppur project. The agreement supports the long-term power requirements of Madhya Pradesh while contributing to energy security and economic development. For Ratul Puri (https://ratulpurionline.in/), projects of this nature demonstrate the importance of maintaining a balanced energy mix capable of supporting India's growing electricity needs as the economy continues to expand. The project also reflects the broader view that renewable energy growth, storage solutions and dependable power infrastructure must work together to support future demand. India's power sector is entering a new phase where renewable energy, battery storage and reliable power infrastructure will all play important roles. As electricity demand continues to rise, the focus is increasingly shifting towards solutions that combine sustainability, reliability and affordability. Through investments across renewable energy, battery storage and large-scale power infrastructure, Hindustan Power continues to expand its presence across the sector. The company's approach reflects the growing importance of integrated energy systems that can support India's evolving power requirements. For Ratul Puri, the focus remains on developing energy infrastructure that can support long-term economic growth while contributing to a more reliable, resilient and sustainable energy future. About Ratul Puri Ratul Puri is the Chairman of Hindustan Power, an integrated power generation company with a strong presence in renewable and transitional energy generation. Over the years, Ratul Puri has been involved in the development of large-scale energy infrastructure projects that support India's growing power requirements and its transition toward cleaner energy sources. About Hindustan Power Hindustan Power is an integrated power generation company with a presence across renewable and transitional energy assets. The company continues to invest in energy infrastructure that supports reliability, sustainability and long-term value creation within India's evolving power sector. This content is taken by this source:- https://thewire.in/ptiprnews/ratul-puri-on-renewable-energy-battery-storage-and-indias-evolving-power-sector

Ratul Puri(https://ratulpuri.ind.in/about), Chairman of Hindustan Power, believes India's clean energy transition now hinges less on generation capacity and more on building the supporting ecosystem. In this conversation with BW Businessworld, he discusses why battery storage is becoming indispensable to renewable energy, the case for distributed generation, the rationale behind domestic manufacturing policies such as ALMM, the impact of AI-driven power demand, and the policy reforms needed to accelerate India's energy transition while ensuring long-term investor confidence. Battery storage in India has gained a lot of attention recently in the solar conversation. We have states like Rajasthan scaling aggressively. Does storage finally make commercial sense in India, or are the economics still dependent on policy support? (https://www.forbesindia.com/author/ratul-puri/4665) I think eventually battery is crucial, it's the key that opens the renewable chain, it's the key that will unlock the opportunity that exists within renewables. Doing solar without battery makes limited sense for India. Today, when the sun is not shining or the wind is not blowing, we are effectively firing up thermal power plants. Those plants are backed down during the day and brought back whenever there is lower solar or wind generation. We also have an evening peak, which means we are building thermal capacity to service that demand while backing it down during solar hours. That significantly adds to the overall cost of the grid. Storage is vital, and I believe India needs to push storage even if it appears uneconomical today. It is certainly more economical than building a new coal-fired power plant, a new coal mine, the rail infrastructure between the two and the transmission infrastructure, only to back that capacity down for several hours every day. Storage will be the most significant investment India can make over the next five to ten years to enable the energy transition. Electricity is the future of energy, and we are seeing demand rise across residential, industrial, commercial, transportation and data centres. Without storage, solar and wind, I don't think India can meet the aspirations of its 1.4 billion people. Storage is still expensive, but costs have come down sharply over the last two years. Battery costs have fallen by more than 60 per cent, while overall system costs have declined by around 35–40 per cent. We now need to create scale and learning capability, just as we did with solar, and eventually build domestic manufacturing. The West Asia conflict has shown us that for something as vital as electricity and energy, we need domestic supply chains. Today, storage is viable for time-shifting energy. It is certainly cheaper to do that using batteries than by building a coal-fired power plant and backing it down during solar hours. Coal-fired power is still cheaper than solar plus battery, but if the choice is between a thermal plant that sleeps during the day and wakes up at night versus solar plus battery, then solar plus battery is the better combination. India recently strengthened the ALMM policy to boost domestic manufacturing, but developers have spoken about higher costs and supply disruptions. Has the policy delivered more benefits than challenges so far? I think if, as a nation, we want to build domestic capacity and domestic supply chains, we have to encourage domestic manufacturing. ALMM and domestic content requirements are an important part of that. Every industry needs some time to stand on its own feet. If you protect domestic industry for a period, you will see capacity coming in. If you look at module manufacturing, India has built very large manufacturing capacity in a short span of time—probably the second or third largest in the world by all accounts. That has happened because of positive policy support from the government. You need to handhold industry, give it a runway to achieve scale and become competitive with China and other global manufacturers. Now the government is stepping further back in the value chain, and I think that's the right approach. Are there challenges? Absolutely. Today, sufficient cell manufacturing capacity does not exist in the country. Developers with large project pipelines are finding it difficult to secure cells, and the entire supply chain is under pressure. But that's how markets work. Manufacturers who invested early in cell capacity are benefiting today because they took the investment risk. Domestic cell prices have risen sharply, creating enough profit incentive for more companies to invest. I believe that within the next year and a half to two years, significant additional cell manufacturing capacity will come up. This content is taken by this source:- https://www.businessworld.in/article/doing-solar-without-battery-makes-limited-sense-says-ratul-puri-chairman-hindustan-power-613246

India has been adding a lot of clean energy capacity over the past few years. Solar farms and wind projects have been coming up across the country at a good pace. But Ratul Puri, chairman of Hindustan Power, says the sector is now moving into a new phase. Less about announcing big numbers and more about making sure projects actually get built and deliver power consistently. Ratul Puri put it simply: India's clean energy space is now at a point where it is not just about adding capacity, but making sure that projects are delivered on the ground with a focus on round-the-clock power delivery. That is a real shift, and it shapes a lot of what is happening in India's energy space right now. Getting Projects Done Is Harder Than It Looks Even as solar and wind capacity has grown, there are on-the-ground challenges that slow things down. Land-related issues, clearances, and other approvals take time and can push project timelines back. They matter more now that the focus is on actual delivery rather than just targets. Delays in building out transmission lines have also held back a large chunk of capacity already in development. When the grid is not ready to receive the power being produced, nothing can move forward properly. This is something Ratul Puri sees as needing more coordinated attention. There is also the matter of power sale agreements, which are contracts between energy producers and buyers. Some of these have not been signed yet, which creates uncertainty for developers trying to plan ahead. Getting these agreements in place in a timely way is something Ratul Puri sees as important for keeping projects on track. Storage: Big Promise, Slow Start Battery storage is one of the most talked-about areas in energy right now. Being able to store power and release it when needed makes clean energy more useful and consistent. India has seen a lot of interest here, with a large amount of storage capacity put out for bids in 2025. But Ratul Puri notes that the gap between what has been bid on and what has actually been built is quite wide. A lot of tenders have gone out, but very little has been commissioned so far. He sees this as a sign that the sector is shifting from a phase where winning bids was the goal to one where actually building and running projects is what counts. As Ratul Puri said, success in this market will now be defined by the ability to execute, not just the ability to bid. Pricing and Long-Term Thinking Energy prices in the clean power space have come down a lot, which helps adoption. But lower prices also mean tighter margins, making careful planning and cost management more important over the life of a project. Ratul Puri has spoken about how even small differences in cost assumptions can have a real impact on whether a project works financially in the long run. Getting those numbers right from the start, and building projects that can hold up over many years, is something developers need to take seriously. Digital Tools and Smarter Operations Ratul Puri also touched on the growing role of digital tools. Things like better forecasting and real-time tracking of plant performance are becoming more common, helping operators catch problems early and get more out of their projects. Ratul Puri described digital solutions as becoming central to how energy operations work, helping teams make better decisions and keep performance strong across projects. What Comes Next The story of India's clean energy sector is still being written. The foundations have been laid, the targets are set, and a lot of projects are in the pipeline. What the next chapter needs, according to Ratul Puri, is a stronger focus on follow-through. Getting projects across the finish line, managing them well once they are running, and making sure the grid can handle what is being built are the things that will define how far India goes in its clean energy journey. Ratul Puri believes the sector has what it takes to get there. About Ratul Puri:- Ratul Puri is the Chairman of Hindustan Power, an integrated power generation company with a strong presence in renewable and transitional energy. Over the years, he has been involved in the development of large-scale energy infrastructure projects that support India's growing power requirements and its transition toward cleaner energy sources. About Hindustan Power:- Hindustan Power is an integrated power generation company focused on renewable and transitional energy. The company has been actively contributing to India's energy transformation through the development of solar power and other energy infrastructure projects.