(MENAFN- KNN India) Bengaluru, May 22 (KNN) Orb Energy, a prominent solar power company operating in India, has commissioned its first 35 MW (DC) ground-mounted solar park in Arsikere, located in Hassan district of Karnataka.
This solar facility, spanning across 110 acres, is projected to generate 5.24 crore units of green energy annually while mitigating 45,000 tons of carbon dioxide emissions every year.
In an official statement on Tuesday, the company stated that this solar park has been specifically developed to facilitate small and medium enterprises (SMEs) in the region.
Orb Energy revealed its intention to develop and commission approximately 400 MW of solar parks dedicated to SMEs across India by the end of the current decade. This ambitious endeavor is expected to entail an estimated investment of around Rs 2,000 crore over the same period.
The company's innovative solar park model enables enterprises to purchase individual plots and own their respective solar sub-arrays within the larger park.
This approach has garnered significant traction among SMEs in Karnataka, where 27 MW (DC) of the solar park's capacity has already been commissioned across approximately 90 acres. Orb Energy anticipates completing the SME-centric solar park by the middle of the current financial year.
To further facilitate SME participation, Orb Energy has introduced a unique collateral-free, in-house financing facility with a five-year tenure. This financing option aims to expedite the transition of SMEs seeking off-site solar solutions in a cost-effective manner.
According to Orb Energy, enterprises that own an off-site solar system can anticipate reduced electricity costs of approximately Rs 3.5-4.0 per unit over the system's lifetime, substantially lower than the current grid tariff rates of Rs 8-9 per unit.
This arrangement benefits both power distribution companies and enterprises by leveraging existing infrastructure for increased generation, addressing growing electricity demand while enhancing SME competitiveness.
Damian Miller, co-founder and CEO of Orb Energy, stated, "We recognised that many SMEs with substantial power needs and limited roof space required an off-site solar solution. To address this, we launched a unique kind of solar park, enabling SMEs to purchase their own plots and solar sub-arrays. This innovative approach has been embraced by SMEs across various industries, empowering them to take control of their rising electricity bills and enhance their competitiveness."
The company is also planning its second solar park in Karnataka to further support its SME clients.
(KNN Bureau)
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