NHPC has proposed the development of a 1,200 MW solar park in Jalaun, Uttar Pradesh, with an estimated investment of Rs 796.9 crore.

The project will be executed through Bundelkhand Saur Urja (BSUL), a joint venture between NHPC and the Uttar Pradesh New and Renewable Energy Development Agency (UPNEDA). This initiative is part of the central government’s "Ultra Mega Renewable Energy Power Parks" (UMREPP) scheme, adhering to guidelines issued by the Ministry of New and Renewable Energy (MNRE).

The total project cost includes Rs 42.7 crore allocated towards interest during construction and equity infusion in BSUL. NHPC plans to finance the project partly through its internal resources and largely through borrowings.

In March 2025, NHPC’s board approved a borrowing plan for FY 2025–26, authorising the company to raise up to Rs 6,300 crore in debt. This includes options such as issuing secured or unsecured redeemable non-convertible debentures (NCDs), term loans, or phased external commercial borrowings to support ongoing and future projects.