Raymond Group goes solar with Waaree Energies’ Group Captive Solution

Waaree Energies, one of India’s largest solar PV manufacturer and a leading EPC player has associated with Raymond Group, a leader in the fashion retailing space, to provide open access solar solution in Ahmednagar, Maharashtra. With a capacity of 2.5 MWp, the plant is expected to reduce carbon dioxide emission by approximately. 3650 tonnes per annum. In a first of its kind in Maharashtra, the commissioned plant has been developed under the group captive model and will have a solar electricity generation capacity of 38 lakh units/year. Waaree Energies serves as a Turnkey Engineering Procurement and Construction (EPC) partner to the brand.

Sunil Rathi, Director, Waaree Energies said, “The group captive model is catching wind on account of the lucrative investment sharing, which reduces the capital investment and in-turn reduces the end user cost by 50 per cent when compared to a captive open access solution. Due to part ownership of the plant, users can avail of energy at an approximate average of INR 1.5 per unit, which only includes the distribution loss, wheeling and banking charges, versus ₹ 4 per unit in case of captive plants. This presents the end consumers, predominantly large scale CandI players, with a financially lucrative proposition while helping them achieve their sustainability goals.”

“The project with Raymond Group, in association with Shahane Solar Power Private Ltd, was a great opportunity for us to showcase our capabilities as a Turnkey EPC player, and we hope to strengthen this partnership further. It is heartening to see an industry leader like Raymond embracing renewable energy and being active partners in this new chapter of solar energy in India. The project is a testament to our service and quality, and adds significantly to our repertoire of projects and clientele”, he added.

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