Hazoor Multi Projects Begins Construction of Maharashtra’s First Solar Park

Hazoor Multi Projects, a property and construction company, has now set the construction date for the first state solar park in the state, Chhatrapati Shivaji Maharaj Saur Urja Park (CSMSUP). The park is to be developed in conjunction with one of the top UK-based multinational corporations and is set for an astonishing 1.2 GW solar capacity. The project will encompass over 4,200 acres of land within the Solapur district, deploying new solar technologies with each panel set to generate over 750 watts.

India's renewable energy investment and emission targets will be aided by the project. While the initiative is designed to cut carbon emissions, it is also expected to stimulate the economy and create job opportunities in the Solapur area. "CSMSUP will prove the worth of renewable energy investments to the doubters," the spokesperson of the company stated when interviewed.

Moses Robert, the director of the company, has also spoken and has commented on how such an undertaking would be value adding, "The implementation of this solar park marks a very important step in the journey of renewable energy for this country."

In addition, he said when describing the company's aims in providing more renewable energy in other states, "this relates to our objective of positioning India as a major player in the renewable energy market."

Hazoor Multi Projects is diversifying its business with a particular focus on renewable energy. The company has also scheduled on January 28, 2025, a board meeting where the business plan for expansion into renewable energy and other emerging sectors will be tabled. One of the agenda items for the meeting is a change of the company's Memorandum of Associates which is expected to facilitate the raising of the necessary funds to implement these plans.

Previously in March 2020, HMPL conducted a stock split of 10: 1 which led to a decrease in the share value of equity stock from Rs 10 to Re 1. Subsequently, the firm has signed an MOU with Square Port Shipyard Private Limited for a merger that will facilitate value creation and strategic integration for stakeholders in the company subject to the regulator's approval. Other contracts include two received by HMPL for about Rs 20.53 crore from the National Highway Authority for the collection of user fee and maintenance of some sections of highways.

Founded in 1992, Hazoor Multi Projects Limited has almost entirely shifted from residential construction to Infrastructure Development and works as a subcontractor on national highway projects.

Moreover, HMPL has set up its market for MSRDC and NHAI. The company has also expanded into the EPC (Engineering, Procurement, and Construction) industry and today has grown to a market value of 988 crores.

With the starting of business in renewable energy, Hazoor Multi Projects is seeking to change its reputation to pursue its business growth in conjunction with the sustainable development of India. The Chhatrapati Shivaji Maharaj Saur Urja Park and other solar parks coming up in the country serve as a testimony of HMPL's aspirations for the company.