Amplus Energy to offer solar power at Rs 3 per unit

In a move that may offer the cheapest rates to solar power users in India, Amplus Energy Solutions has won a bid to install 14.5 MW of solar roof top plants across 10 states.

The tariffs offered are at a record low of Rs 3 a unit in three states and range between Rs 5.3 and Rs 6.2 per unit in other states. These charges have been fixed for 25 years.  

Amplus won the bid under the 500 MW rooftop grid connected scheme in different states floated by Solar Energy Corporation of India (SECI). The Rs 3 per unit or US 4 cents tariff is unprecedented in Indian rooftop solar sector, which has drastically reduced pricing dynamics.

Uttarakhand, Himachal Pradesh and Puducherry will get solar power at Rs 3 per unit, while others such as Karnataka, Madhya Pradesh and Maharashtra will get solar power at Rs 5.56 per unit. In Rajasthan, solar power users will be charged Rs 5.38 per unit, while in Haryana and Punjab the rates will be Rs 5.76 and Rs 6.20 per unit respectively.

Capacities won by Amplus under this bid are Maharashtra (3MW), Rajasthan (2MW), Punjab (2MW), Karnataka (2MW), Haryana (2MW), Himachal Pradesh (1MW), Madhya Pradesh (1MW), Uttarakhand (0.5MW), Puducherry (0.5MW) and Chandigarh (0.5MW). Solar rooftop plants will be identified and installed in buildings of NGOs, educational institutes, hospitals and trusts, among others.

The Gurgaon-based Amplus will install, operate and maintain the project for a period of 25 years and will invest Rs 70 crore for all the projects. These projects would help in CO2 savings of 5,00,250 MT or reduced consumption of 36,97,500 barrels of crude oil which will be equivalent to planting 6,23,500 trees over their entire life.

Amplus is also in the process of closing loans worth Rs 200 crore from the SBI- World Bank lending facility for rooftop projects. The company said it is looking to further expand its geographic footprint in India and hire resources. It currently employs more than 100 people in five cities across India. Amplus is also planning to achieve 100 MW of solar rooftop projects this financial year with 60 MW already clocked with this latest win. 

“With this win, we will be able to offer solar power at unprecedented prices to deserving consumers. We have been witnessing strong support from the state and central governments and this would act as a catalyst in rapidly building our solar portfolio,” said Sanjeev Aggarwal, Managing Director and CEO, Amplus Energy. 

Indian rooftop market is reportedly growing at over 100 per cent per annum. The government aims to increase energy sourced from solar rooftop systems to 40 gigawatts by 2022.

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