Whether your aim is to cut energy costs or reduce your carbon footprint or fulfill regulatory obligations or accomplish your sustainability goals, MI Solar has a solution for you. We offer 3 diverse BUSINESS models for our clients. They range from zero to 100% upfront investment. This helps us to offer our customers the privilege to take a decision as per their own comfort zone. They are as follows:
MI Solar will install the solar power plant and you take the asset ownership. Post installation, our expert engineers will ensure your solar energy operations run smoothly and efficiently under an operations and maintenance agreement.
- Claim tax benefits.
- Insulate yourself from rise in power costs for the future.
- Power to generate your own power .
- Tag your property carbon neutral or Green.
- Earn much higher and risk free returns than Fixed deposits and other investments.
Absolute payback within 4 – 6 years
OPEX / RESCO
Under this model, you agree to purchase power from us at a predetermined tariff and a Power Purchase Agreement (PPA) is signed for the same. You are not required to make any investment. You only pay for the energy generated, typically 20- 40% cheaper to grid electricity tariff with zero investment on the asset, thus saving money in the process. Operation & maintenance will be handled by us.
- No investment from your side.
- No hassles: We will manage the permits, construction, maintenance and operations.
- No risk: Don’t worry about the plant maintenance and life. You pay only for your consumption.
- Meet your Corporate Social Responsibility (CSR) at no additional cost.
- Go green at no additional cost.
MI SOLAR PARKS
Under Solar Park concept, MI Solar meets the client’s electricity needs by supplying solar power produced in Mi Solar’s off-site solar park using state transmission. The solar power is supplied under CAPEX/OPEX model wherein client agrees to purchase power. MI Solar has developed a solar park in Surendranagar, Gujarat. We are geared up to come up with more such solar parks so as to benefit Non Profitable Organisations (NPO), commercial and industrial consumers not having enough area within their premises for an onsite solar plant, with cheaper solar power. In open access under RESCO model, tariff payable by the customer is the sum total of tariff quoted by MI Solar and the open access charges levied by the State Government on account of transmission, distribution, wheeling and different gird-related losses. This open access charges can even be as low as zero for some states such as Karnataka. Other states with supportive open access policies are Gujarat, Madhya Pradesh, Rajasthan, and Andhra Pradesh to name a few.
Open Access in power sector gives the right to the consumer to buy power directly from the market and not necessarily from the utility grid. As per the Electricity Act, a bulk consumer with more than 1 MW connected load, can buy power through from any producer and not only the local utility. Open access projects are economically more sustainable and investors can reap the rewards of shared costs such as evacuation facilities, roads, water pipelines, expert supervision and O & M. Open Access policies in India are decided by the state utility.