In the vibrant and rapidly evolving Indian energy sector, certain leaders stand out for their visionary approach, innovative strategies, and commitment to sustainable growth. One such figure is Ratul Puri, the Chairman of Hindustan Powerprojects Pvt. Ltd. (HPPPL). His journey from a young, technology-driven entrepreneur to the head of one of India’s fastest-growing power companies is both inspiring and insightful.
Ratul Puri was born on July 19, 1972, into a family with a rich business heritage. His father, Deepak Puri, is the founder of Moser Baer, one of India’s leading technology companies, which introduced Ratul to the world of enterprise at a young age.
Puri’s academic journey is as impressive as his business career. He pursued higher education at Carnegie Mellon University in the United States, where he earned a degree in Computer Engineering, Mathematics, and Computer Science. This strong technical foundation has been pivotal in shaping his analytical mindset and strategic thinking abilities.
The exposure to advanced technology and international business perspectives equipped Puri with a unique blend of skills that he would later apply to India’s energy sector — an industry ripe for modernization and innovation.
In 2008, Ratul Puri established Hindustan Powerprojects Pvt. Ltd., aiming to address India’s persistent power deficit with a focus on sustainable and reliable power generation. India, with its growing economy and expanding population, faced challenges in meeting the rising demand for electricity, especially in rural and semi-urban areas.
Hindustan Powerprojects under Puri’s leadership has emerged as a diversified energy company, operating across thermal, hydro, and solar power projects. The company’s portfolio reflects a balanced approach toward meeting India’s immediate energy needs while also aligning with the global shift towards cleaner energy sources.
Ratul Puri has consistently emphasized sustainability in his business strategy. While thermal power remains an important part of the company’s portfolio, significant investments are being made to expand renewable energy projects. HPPPL has set ambitious targets to develop a 5 GW renewable energy capacity by 2028, focusing on solar and hydroelectric power.
Ratul Puri’s leadership is characterized by a combination of innovation, strategic risk-taking, and a deep sense of responsibility toward the environment and society.
One of the hallmarks of his leadership is fostering a culture where employees take ownership of their roles. This empowerment leads to higher productivity, creativity, and a motivated workforce committed to achieving the company’s vision.
Ratul Puri believes that businesses have a critical role in uplifting communities. Under his leadership, Hindustan Powerprojects has undertaken several Corporate Social Responsibility (CSR) initiatives, particularly in water conservation and rural development. For instance, the company has installed hand pumps and provided clean drinking water to water-stressed villages in Uttar Pradesh, supporting government schemes such as the Jal Jeevan Mission.
One of the flagship projects spearheaded by Ratul Puri is the Anuppur Thermal Power Plant in Madhya Pradesh. With an installed capacity of 2,520 MW, this coal-based plant is among India’s largest. It plays a crucial role in supplying power to the northern states, including Madhya Pradesh and Uttar Pradesh.
The project marked a significant milestone for Hindustan Powerprojects when its first unit was commissioned in 2015. This success was a testament to Puri’s ability to navigate the complex regulatory, environmental, and technical challenges inherent in large infrastructure projects.
Alongside thermal power, Puri has led HPPPL’s expansion into renewable energy. The company is actively developing solar parks and hydroelectric plants, contributing to India’s goal of achieving a cleaner energy mix and reducing carbon emissions.
This dual focus on conventional and renewable energy demonstrates Puri’s pragmatic yet forward-thinking approach — balancing immediate energy demands with long-term sustainability.
Ratul Puri’s accomplishments have been recognized by several prestigious awards and accolades, underscoring his leadership and impact on the Indian business landscape:
Ernst & Young Entrepreneur of the Year (2002): Awarded for his innovative business strategies.
Business Today’s Top 21 Young Leaders (2007): Recognized for his potential to transform Indian industry.
CMO Asia CEO of the Year (2014): Honored for excellence in infrastructure leadership.
World Economic Forum’s Young Global Leader: An acknowledgment of his influence on both national and international stages.
Like many high-profile business figures, Ratul Puri has faced legal scrutiny. In 2019, he was questioned by the Enforcement Directorate in connection with the AgustaWestland helicopter deal probe. Allegations involved money laundering and bank fraud linked to his former company, Moser Baer.
Additionally, the Income Tax department conducted raids on Hindustan Powerprojects, detecting tax evasion and bogus billing activities allegedly worth over ₹1,350 crore. Puri has denied all allegations, and investigations are ongoing.
While these controversies have posed challenges, they have also highlighted the complexities of operating large-scale businesses in India’s highly regulated environment.
Looking forward, Ratul Puri remains optimistic and committed to driving growth in India’s energy sector. His vision includes:
Scaling Renewable Energy: Expanding solar and hydro capacity to help India meet its ambitious climate goals.
Technological Innovation: Leveraging digital tools and smart grid technology to improve efficiency and reliability.
Sustainable Growth: Balancing economic development with environmental protection and social welfare.
Collaborative Partnerships: Working with governments, communities, and global stakeholders to foster a resilient energy ecosystem.
Puri believes that the private sector must play an active role in supporting India’s transition toward cleaner energy, energy security, and inclusive growth.
Ratul Puri is an Indian businessman, Chairman of Hindustan Powerprojects, known for his leadership in power generation and renewable energy.
Hindustan Powerprojects Pvt. Ltd. is an Indian integrated power company involved in thermal, solar, and hydroelectric power projects, founded and led by Ratul Puri.
He has led the Anuppur Thermal Power Plant project and expanded renewable energy initiatives, receiving multiple industry awards for his leadership.
Yes, he has been involved in legal inquiries related to the AgustaWestland case and tax investigations, with proceedings ongoing.
He aims to increase renewable energy capacity, foster innovation, and promote sustainable, inclusive growth in India’s energy sector.
Ratul Puri’s story is a compelling blend of vision, innovation, and resilience. As the Chairman of Hindustan Powerprojects, he has significantly influenced India’s energy landscape by combining traditional power generation with renewable energy ambitions.
His leadership style, grounded in empowerment and responsibility, has helped build a company that not only meets India’s growing energy demands but also invests in community welfare and environmental sustainability.
While his journey has seen challenges and controversies, Puri’s commitment to shaping India’s energy future remains unwavering. For those interested in Indian business leadership, energy innovation, or sustainable development, Ratul Puri’s career offers rich insights and inspiration.