- Country: India
- Industry: Energy, Natural Resources, Mining
- Stage: Start-up
- Investment size: $400,000 / min. $95,000
- Type of investment: Debt
Solar&Wind power project, Captive power plant, Power Sales. Our mission is to create innovative solutions and deliver solar energy to utility, government and customers.
We focus on solar energy and sell electricity into the power grid from the power produced from our Photovoltaic (PV) or Concentrated Solar Thermal Power (CSP) plants.
We will work towards making low cost, utility scale solar energy a reality in India – a country that has the ideal environment to capture sunlight and generate enough solar energy to meet all its needs.
Our company offers clean and affordable solar energy to its customers with minimum upfront cost and ongoing operational expenses. Our unmatched world-class execution capabilities and experience makes it the best proposition for customers. We design, finance, execute, operate, and maintain high quality solar power plants.
Our mission is to create innovative solutions and deliver solar energy to utility, government, and commercial customers. When these customers work with us, through Solar Power Purchase Agreements (SPPAs), they work with an organization that controls the entire execution process without reliance on any external sources.
We provide fully managed solar energy services without upfront capital costs for speeding rural development including rural communities, schools, and hospitals along with meeting government's ambitious objectives for driving India's economic growth with clean energy. Our customers purchase solar energy and equipment so they get clean energy with no complexity.
• Highly Reliable: We use the best photovoltaic panels and system to ensure 25+ years of flawless operation. Our experienced operations team delivers on our promises to customers.
• No Operating Cost: Customers pay nothing to maintain the plant. Solar energy is THE cost effective, reliable renewable energy.
• Environmental Benefits: No noxious emissions. No noise. No pollution. Good for customer’ business and for community.
• Modularity: Our solar systems are easily extensible. As customers’ appetite for clean, reliable power grows, we will help them expand your usage of solar.
We own the plant, so we ensure that our customers have a world-class power plant. We provide solar power solutions to Special Economic Zone, shopping malls, warehouses, telecom towers and other commercial customers with large real estate portfolio. We build long-lasting relationships with customers by signing long-term Power Purchase Agreement (15-25 years) to sell power and remove all complexities from the process. We eliminate the upfront cost and reduce ongoing operational costs for our customers. Our team has several years experience of successfully installing and operating solar solutions worldwide.
Rationale for the deal
SOLAR AS A SERVICE
India’s power needs are increasing faster than most of the rest of the world. In spite of huge progress over the last few years, 40% of Indian citizens do not have access to electricity. There is a growing energy uncertainty for India’s economy and security, stemming from the quality, availability and
variable pricing of India’s primary source of energy, fossil fuels.
The use of renewable energy to provide for its power needs not only makes sense from the indigenous resources perspective but also from the security point of view. Of all the renewable resources, solar energy is the most promising. It has the potential to provide the greatest amount of power because solar radiation is almost uniformly available throughout the country. Solar thermal power has been recognized as the most cost effective solution for large scale (MW scale or higher) central power generation.
India’s large tracts of arid, undeveloped land lend themselves perfectly to large solar thermal arrays, and the high numbers of clear, cloud-free days facilitate very high levels of efficiency per square meter of solar installation.
The sun is one of the most promising sources of power for replacing fossil energies. Solar power is abundant, inexhaustible and free and is more predictable than wind energy. Thus, solar power is destined to be one of the technological options that will contribute massively to covering worldwide
energy demand with high environmental “profitability”.
SCOPE OF SERVICES
Inspection: We will perform a thorough analysis of customer’ site to ensure suitability and forecast generation potential.
Design: Our engineering team will custom design the optimal system for the customer’ unique facility.
Contract: The customer will sign an VRIDDHI Power PPA for 15 or 20 years of reliable solar power supply or buy the whole system upfront. Customer can also opt for EMI scheme.
Installation: In coordination with customer’ facility management group, we will install, test, and commission solar system. We use the best components so that we can provide customers more power at a lower cost.
Operation: we will take care of operation & maintenance of the solar system. We send customer a bill for the power consumed each month if opted for PPA.
Ownership: At the end of the PPA, customer owns the system or can continue purchasing power from us.
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