200 kW Rooftop Solar for Educational Institution in Tamil Nadu, India
Our partner has signed a 25-year Power Purchase Agreement (PPA) with the customer for the deployment, commissioning and management of a 200 kW rooftop solar project. 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.
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 Educational Institution is a registered charitable trust and educational establishment in Chennai, Tamil Nadu. The trust was established in 1973 and is a part of a larger family organisation that have businesses in exports of coffee, pepper and having their establishment in automobiles, jewelry and construction. The trust operates twelve hours a day and based on the site visit conducted by our partner, they have suitable and sufficient rooftop space for the proposed installation. Furthermore, the trust is eligible for net metering benefits whereby an excess electricity generated from the solar plant that goes unused can be banked with the grid and credited to the trust at a later stage.
Based on the technical evaluation, the solar plant will be spread across 3 roofs and broken down into 4 times 50 kW systems. Currently, the customer is paying a premium to the electricity grid and has been looking to transition towards a cleaner and cheaper source of electricity. As a result, the customer has signed a Power Purchase Agreement with the partner for the commissioning and management of the 200 kW rooftop solar project. Customer can expect savings 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 Educational Institution.
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 Sep. 10, 2020
- Customer accepted the proposal on Mar. 31, 2021
- Construction and statutory approvals commencement on May 06, 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.