KOR Energy India, a solar power company, announced it has won orders for 2.8MWp form four companies in Uttar Pradesh.
Of the total 2.8MWp, 1200KWp rooftop solar plant is being installed at Apollo Metalax, another 1200KWp rooftop solar plant at Apollo Pipes and 200KWp Rooftop Solar Plants are being installed each for KV Aromatics and Hindustan Mint.
The project uses solar modules from REC Solar and inverters from ABB. These systems will be grid connected and will have net metering, which will result in receiving credit in electricity bill against the excess electricity generated by the solar system.
Sushil Kumar Sarawgi, director, KOR Energy, said, “These projects will further help us to consolidate our presence in UP and also our contribution towards the overall green energy mission.”
For industrial consumers, electricity tariff is quite high as compared to other sectors. But for industrial consumers, installation of solar power is much cheaper and solar power tariff is going to remain almost the same throughout the lifetime of the solar plant.
High power tariffs in industries coupled with accelerated depreciation will benefits these solar plants and help them to achieve payback in less than 4 years. Apart from this, these solar systems have life of more than 25 years which makes the solar system investment a reliable and cost effective decision.
“In our endeavor to contribute to our ‘Make in India’ commitment, we are focusing upon technological superior products and best practices in design, engineering, installation, operations and maintenance of plants so as to give maximum returns to our customers over a longer period of time,” Sarawgi added.