127 kW Rooftop Solar for Top-Ranking Car Dealership Network in India
Our partner has signed a 7-year Power Purchase Agreement (PPA) with the customer for the deployment, commissioning and management of a 127 kW rooftop solar project. The project is spread across 5 car dealerships in Kerala, India. As a result, this customer will not only reduce their carbon footprint but also realize 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.
The customer signing the Power Purchase Agreement (PPA) operates as an automotive retailer and is the top-ranking Car Dealership Network in India. They retail new and used cars, SUVs, vans, trucks, sedans, brakes, tires, and accessories, as well as offering auto financing, maintenance, and repair services.
The company’s registered office is in Calicut. Their corporate office in Kochi was incorporated on Jul. 11, 1984 and they opened their first dealership in Calicut in the year 1986. Since then, they’ve expanded to nearly 60 dealerships spread across Kerala, India. The partner seeking funding for the 127 kW (Phase 2) rooftop solar has already commissioned 110 kW (Phase 1) for the customer across three other locations.
The partner will repay the loan within 5 years through cash flow generated from the sale of solar power to the Car Dealership Network.
Repayment Schedule: Monthly
Disbursement Date: Within 48 hours of 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 Oct. 19, 2020
- Customer accepted the proposal on Oct. 26, 2020
- Agreements signed on Oct. 26, 2020
- Construction and statutory approvals commencement on Dec. 23, 2020
- Plant commissioned on Apr. 15, 2021; awaiting statutory approvals
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.