Realty firm Gaurs Group sets up 15 MW solar power plant near Gwalior at Rs 80 cr – EQ Mag

Realty firm Gaurs Group has set up a 15 MW solar power plant near Gwalior in Madhya Pradesh with an investment of Rs 80 crore

The electricity produced by the plant will be integrated into the central grid and utilised for its real estate projects, the company said in a statement.

Delhi-NCR-based Gaurs Group has established a 15 MW solar power plant at Mahoba near Gwalior. The project is spread over a 50-acre area.

“Built with an investment of Rs 80 crore, the plant will generate 2.25 crore units of electricity annually. The project’s capacity can be enhanced as per future requirements,” the statement said.

The project has been financed through private equity and funding of Rs 55 crore from SBI.

Manoj Gaur, Chairman and Managing Director of Gaurs Group, said the company has completed the 15 MW Mahoba solar power project and dedicated it to the nation on World Environment Day.

“The minimum useful life of the plant is 26 years. However, it has the potential to operate beyond the stipulated time frame,” he said, adding that the company is committed to sustainable development and reduction in carbon footprints.

Gaurs Group said this will result in a reduction of 18,000 tonne of CO2 equivalent annually.

It has also adopted solid waste management in the real estate sector. More than 60,000 kg of solid waste is collected and converted to compost every day, which is nearly 21,900 metric tonne annually from its delivered projects, the statement said.

Gaurs Group, one of the leading real estate developers in Delhi-NCR, has delivered over 65 projects spread over 60 million square feet, comprising around 65,000 dwelling units.

Source: PTI