One of India’s leading solar power companies, Orb Energy, has recently set up its first 35 MW ground-mounted solar power park in Arsikere, Hassan district in Karnataka. This unprecedented project covers 110 acres and provides a staggering 5. per annum to its consumers, besides offsetting 45 thousand tons of carbon dioxide emission.
Solar Park for SMEs
The solar park has been developed to provide energy to the region’s small and medium-scale industries (SMEs). To that end, Orb Energy seeks to ensure businesses can access clean energy to operate competitively.
Innovative Solar Park Model
The implication of having a solar park is that enterprises can have their solar sub-arrays within the park by purchasing plots. SMEs in Karnataka have greatly benefited from this approach. The company has installed 27 MW (DC) across about 90 acres, and the solar park exclusively for SMEs is expected to be fully commissioned by the middle of the current financial year.
Financial Empowerment
Orb Energy provides collateral-free, in-house financing to assist SMEs in owning their fraction of the solar park. Such a financing solution has a five-year term and allows for fast and relatively cheap swaps to off-site solar systems. SMEs that own an off-site solar system should expect to spend less on electricity, which will cost around 3.5-4.0 rosettes per unit over the system’s lifetime compared to the current grid tariff rates of Rs 8-9 per unit.
Ambitious Expansion Plans
Orb Energy is targeting approximately 400 MW of solar parks for SMEs by the decade’s end. The estimated capital outlay for this lofty goal is around Rs 2,000 crore. Orb Energy assists in attaining sustainable energy by utilizing existing infrastructures and supporting the development of SMEs in the country.
Orb’s Energy Financial Model
Orb Energy has also adopted a unique financing model to ensure that the transition to solar power is as easy and fast as possible. It promises a short approval time of 7 working days.
- Collateral-Free EMI Finance
Unlike other solar companies, Orb Energy offers EMI finance and collateral-free direct finance. You will not need to beg banks for funds. The financing tenure can sometimes be up to 5 years to help you manage your repayments well.
- Zero Downpayment
With Orb’s financing, you can get solar with no money to begin your solar adventure. You will save far more each month than the EMI cost of procuring solar panels, which was confirmed from the initial month.
Conclusion
The solar park introduced by Orb Energy provides clean power and creates economic stability. As more SMEs adopt this technology, the region gets closer to a sustainable zero-emission solar power future. This solar park shows that using renewable energy is possible and beneficial to the environment and the economy.
Orb Energy’s 35 MW ground-mounted solar power plant in Karnataka is one such ray of hope that manifests the potential of innovation, cooperation, and a determined stance towards a cleaner environment.
Image Source: economictimes.indiatimes
