Mumbai-based Epic Energy, a solar EPC solutions provider, announced it is setting up a 35 MW solar park near Solapur in Maharashtra with Niva Ecotech, a solar park developer.

The company, which aims to reach a total installed capacity of 140 MW in the next two years, has identified several sites in and around Solapur to set up the solar park.

Epic is negotiating with blue-chip corporates to set up solar projects under the group captive open access arrangement at the proposed solar park.

Niva will identify the land and undertake the engineering, procurement, and construction part of setting up the solar park. Epic will enter into contracts with clients to set up their projects in the solar park under the group captive open access arrangement. Epic will also invest in the equity of the special purpose vehicles and arrange the debt components of the projects.

In another captive power transaction, Sun Drops Energia, a wholly owned subsidiary of Gujarat-based KPI Green Energy, has received letters of intent from mining and mineral processing company Wolkem India and textile firm Mahadev Texo Fab to execute solar power projects with a cumulative capacity of 7 MW.

The projects will be completed in various tranches in the financial year 2024-25.

These initiatives are part of the increasing trend of commercial and industrial (C&I) units across sectors in India taking to green energy open access and group captive arrangements to power their operations.

Sourcing solar energy through the open access route or installing rooftop solar projects can significantly cut C&I units’ energy costs. Using renewable energy will also help the units to cut their carbon footprint, meet their net zero goals, and make their operations more sustainable.

Mercom India has been hosting a “Clean Energy Meets” series for the C&I sector in various cities. The next event in the series is scheduled for September 20, 2024 in Pune. These events will help stakeholders find optimum solutions for purchasing low-cost, reliable, clean power and learn how the energy market is evolving for a seamless transition towards clean energy while navigating technological and financial challenges.