Hariom Power reaches 15 MW, targets 52 MW by January 2027

Hariom Power and Energy Private Limited reached 15 megawatts of alternating-current capacity in October 2026 after commissioning two 5 MW plants, and it targets 52 MW AC across 11 Maharashtra locations by January 2027. The target is supported by 37 MW AC under execution and a 25-year power purchase agreement at Rs 2.96 per unit.

What has Hariom Power commissioned so far?

Hariom Power has 15 MW AC of operational solar capacity across three locations in Maharashtra. The operating total includes two 5 MW AC plants commissioned in October 2026, which the presentation says brought the company’s solar capacity to 15 MW AC. The solar business sits within a 60 MW AC portfolio spread across 13 locations in Maharashtra.

The October additions were the Jaipur plant in Hingoli and the Pusegaon plant in Hingoli, each rated at 5 MW AC. The Jaipur project injects power at the 33/11 kilovolt Jaipur Substation, while Pusegaon injects at the 33/11 kilovolt Pusegaon Substation. Both projects were developed under the Mukhyamantri Saur Krushi Vahini Yojana, or MSKVY, 2.0 scheme.

The 10 MW commissioned in October represents two-thirds of the 15 MW operational total, with the remaining 5 MW located at the third operating site. The presentation does not identify that location or give its commissioning date. It does, however, distinguish installed capacity from the wider development portfolio, which is also stated as 72 MW of direct-current capacity across the same 13 Maharashtra locations.

How does Hariom Power plan to reach 52 MW by January 2027?

Hariom Power plans to reach 52 MW AC by January 2027 through phased commissioning of 37 MW AC across eight locations that remain under execution. Adding those projects to the reported 15 MW AC already operating produces the stated 52 MW AC target. The January figure includes the projects that were operational after the October 2026 commissioning.

The planned capacity rollout is tied to MSKVY 2.0, identified in the presentation as the PM-KUSUM Feeder Level Solarization Scheme. Hariom Power describes the remaining projects as the next phase of commissioning, rather than providing individual plant commissioning dates. The disclosed timetable therefore provides a January 2027 aggregate target but not a location-by-location construction or grid-connection schedule.

The comparison between the January target and the total portfolio indicates that 8 MW AC of the 60 MW AC portfolio is not included in the 52 MW AC target. This is an arithmetic comparison of the capacities disclosed by Hariom Power, not a separately stated commissioning plan. The company has not set out a completion date, location list or commercial-operating milestone for that remaining 8 MW AC in the presentation.

What revenue arrangement supports Hariom Power's solar portfolio?

Hariom Power says a 25-year power purchase agreement, or PPA, with MSEDCL provides contracted revenue visibility as the portfolio becomes operational, at Rs 2.96 per unit. The disclosed agreement links the revenue arrangement to the portfolio’s commissioning progress, making the timing of project completion material to when capacity can operate under the stated contract.

The presentation does not disclose projected annual electricity generation, yearly revenue, plant load factor, payment schedules or escalation terms for the Rs 2.96-per-unit tariff. It also does not state whether all 60 MW AC of portfolio capacity will begin supplying electricity at the same time. As a result, the source supports the existence, duration and tariff of the PPA, but not a calculated revenue forecast.

The operational base of 15 MW AC and the January 2027 target of 52 MW AC show the scale of capacity expected to move under the commissioning programme. The difference is 37 MW AC, matching the capacity stated to be under execution. The 25-year term is longer than the near-term January 2027 commissioning target, but the presentation does not specify the PPA commencement date for each individual location.

How does Hariom Power fit within Hariom Pipe Industries?

Hariom Power is the renewable-energy subsidiary of Hariom Pipe Industries Limited, in which the parent reports an 87.75% holding. The subsidiary was incorporated on 19 March 2025. Its 60 MW solar portfolio is listed alongside the parent company’s five manufacturing units, 785,232 metric tonnes per annum of installed manufacturing capacity and more than 900 dealers and business-to-business clients.

For Hariom Pipe Industries, the solar programme is separate from its core pipes, scaffolding and coils operations, but the presentation also identifies renewable-energy solutions as a product-development area. The parent says it has developed high-strength, pre-galvanized tubular sections for solar structures to replace traditional hot-rolled steel channels. It says the sections reduce steel weight and remove the need for hot-dip galvanizing, without quantifying cost savings or sales from these products.

Hariom Pipe Industries reported Rs 983.4 crore in first-half FY27 revenue from operations, up 23.4% year on year, and Rs 117.6 crore in earnings before interest, tax, depreciation and amortisation, up 17.2%. Those financial figures are presented on a standalone basis, while Hariom Power is described as a subsidiary. The presentation does not provide separate solar revenue, expenditure, profit, debt or capital-investment figures for Hariom Power.

What remains undisclosed about Hariom Power's rollout?

Hariom Power has disclosed the headline construction pipeline and January 2027 capacity target, but it has not disclosed project-by-project costs or financing for the 37 MW AC under execution. The investor presentation names only Jaipur and Pusegaon among the 13 Maharashtra locations, both of which were commissioned in October 2026 at 5 MW AC each.

The presentation also does not provide generation data for the 15 MW AC now operating, such as units supplied, capacity utilisation, downtime or first-month plant output. Nor does it identify a tariff distinction between the operating and under-construction plants. The PPA rate of Rs 2.96 per unit is stated as support for contracted revenue visibility as the portfolio becomes operational.

The capacity measures should also be read carefully. The portfolio is described as 60 MW AC and 72 MW direct current, reflecting two different electrical ratings rather than two separate portfolios. The January 2027 milestone is expressed in AC capacity, at 52 MW across 11 locations, so it is directly comparable with the 15 MW AC operating figure and the 37 MW AC execution pipeline.

Conclusion

Hariom Power’s disclosed milestone is a move from 15 MW AC operating after the October 2026 launch of Jaipur and Pusegaon to a planned 52 MW AC by January 2027. The 37 MW AC under execution exactly bridges those two capacity figures, while the 25-year PPA at Rs 2.96 per unit provides the stated contracted-revenue framework for projects as they enter operation.

The next disclosed event to watch is phased commissioning under MSKVY 2.0 ahead of the January 2027 target across 11 locations. The presentation does not provide a separate timetable for the remaining 8 MW AC of the 60 MW AC portfolio, or project-level generation, cost and revenue data for the operating and under-execution sites.