New Delhi, April 23 -- Hindustan Power on Thursday said it has secured a project from the Punjab government to set up a 100-megawatt solar project in the state.

The project was awarded through a tariff-based competitive bidding process, followed by a successful e-reverse auction, the company said in a statement.

"Hindustan Power has secured a 100 MW AC (alternating current) solar power project from Punjab State Power Corporation Limited, to be developed in Punjab," it said.

Under the terms of the project, Hindustan Power will enter into a 25-year power purchase agreement (PPA) with Punjab State Power Corporation Limited, providing long-term visibility on revenues while supporting the supply of clean energy to the state.

The project is...