225 kW Rooftop Solar for Listed Company – Chemical Manufacturer in Sri City
Our partner has signed a 20-year Power Purchase Agreement (PPA) with the customer for the deployment, commissioning and management of a 225 kW rooftop solar project. The solar plant has been operational for over one year. The loan here will backfill a live solar plant, freeing up capital to deploy for new energy projects. As a result, this customer not only reduces their carbon footprint significantly but also realizes greater savings on their electricity bill.
Length of Loan
According to U.S. Energy Information Administration- 2019 Residential Energy Consumption Survey, the average U.S. household consumes about 10,649 kilowatthours (kWh) per year.
Equivalent to this number of gasoline cars off the road every year
According to U.S. Environmental Protection Agency (2020), average greenhouse gas emissions per passenger vehicle is 4.60 metric tons CO2 per year.
Number of Trees Planted
According to Green Mountain Energy (based on U.S. Department of Energy's method for calculating carbon sequestration by trees), a typical tree takes in 8,397 lbs CO2 over its lifetime.
Started in 1983, the customer established the first membrane cell plant for Chloralkali production in India; it has also built a long legacy of sustainability and diversity in the workplace. The customer is one of the first major chemical organizations in India to introduce and implement innovative technologies successfully and stay at the forefront of the industry. With considerable investment in processes and quality improvement, the customer’s operations have been at the cutting-edge of technology since its inception.
As part of the Power Purchase Agreement signed, the partner commissioned and is currently managing the 225 kW rooftop solar project. Customer is saving upwards of 15% per unit of electricity generated.
The partner will repay the loan within 5 years through cash flow generated from the sale of solar power to the chemical factory.
Repayment Schedule: Monthly
Disbursement Date: Within 48 hours from your loan being received
Funding Model: Loan
Partner Covers Currency Loss? Yes
Field Partner: Distributed Energy
Is Borrower Paying Interest: Yes, 7.5%
- Partner submitted the proposal on Aug. 27, 2019
- Customer accepted the proposal on Sep. 30, 2019
- Construction and statutory approvals commencement on Dec. 15, 2019
- Plant went live on Mar. 28, 2020
- Statutory approvals received on Jun. 30, 2020
- Proposal submitted to renewables.org to backfill on May 30, 2021
100% of your loans go to a solar plant
We select projects through our on-ground partners. Our team regularly evaluates these funding opportunities technically and financially.