Mumbai: Artha Energy Resources (AER), a boutique investment bank and corporate advisory firm has announced that it has started expansion work on its 165KW rooftop solar power plant in Aurangabad, Maharashtra. The current capacity of the solar rooftop power plant stands at 100.4KW which has been active since February 2019 while 64.5KW will now be added under the expansion project. The expansion work for the solar rooftop project is for an Auto component manufacturer based in Aurangabad, Maharashtra and is expected to be completed by 1st December 2020.
As part of the expansion work Longi 430 Wp Half-cut Mono PERC Modules with Sungrow 50KW invertor will be installed. Currently, at 100.4KW the plant generates around 1.5 lakh units annually, with the completion of expanded capacity of 64.5KW it is expected to generate around 2.5 lakh units annually. With this new installation the auto component manufacturer is expected to save around 17.5 lakh rupees per year considering a tariff of 7 rupees per unit.
Commenting on the expansion of the project Mr Animesh Damani, Managing Partner, Artha Energy Resources said, “We are delighted to start the expansion work; it is a good feeling when a client comes back to you and wants to expand their solar capacity. This gives us a major boast in the quality of work we do and the output we promise to deliver to our clients. The expansion work is a testimony of how industrial units can utilize its space and save on costs by adopting solar. The addition of new capacity will help our client meet its growing demand for energy at the same time cut down on energy costs.”
By 2023 Artha Energy Resources aims to add around 30MW of assets from solar. Artha Energy resources owns few windmills in Rajasthan and Maharashtra. By the next couple of years Artha Energy aims to achieve 80 percent of its capacity coming from solar power. Ninety percent of its industrial project clients are from pharma, automobiles and FMCG while on the commercial front — hotels, malls and corporate houses of large companies form its clientele. Apart from rooftop solar Artha Energy is active in operation of greenfield and brownfield projects as well.
About Artha Energy Resources:
Established in 2013, Artha Energy Resources (AER), is a boutique investment bank and corporate advisory firm focusing primarily in the Power Sector. Currently, Artha Energy Resources has has advised on renewable energy transactions worth $812 million, including 150 MW in large hydro projects, 100+ MW in solar and wind, and 50 MW in biomass. It has created a platform that connects various unconnected information silos in the Indian power industry, to identify potential transactions for new projects, M&A, refinancing, and other facilities. For more information please visit https://artha.energy/
