Veer Energy & Infrastructure Limited has entered the business to consumer (B2C) market to provide EPC solutions to install rooftop solar projects.
According to a Bombay Stock Exchange (BSE) filing, Veer Energy is targeting rooftop solar market due to the introduction of net-metering technologies in most Indian states. For Veer Energy net-metering policy is consumer friendly and has opened the rooftop solar market.
Per Veer Energy, rooftop solar projects can help consumers save approximately 30 percent of their power costs over a long period of time (25 years). The company plans to install and commission up to 30,000 kW of rooftop solar projects with net metering by March 2018.
According to Veer Energy, the installation and commissioning of 30,000 kW is expected to generate revenue of ₹150 million (~$2.3 million); the company would make a profit of ₹15 million (~$0.23 million). Out of the 30,000 kW, the company expects industrial, corporate, and private sector consumers to account for 20,000 kW, and schools, colleges, social institutions to account for 10,000 kW.
Recently, the Ministry of New and Renewable Energy (MNRE) discontinued the empanelment of channel partners for rooftop and small solar to open the rooftop solar segment to more investment and for more players.
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Saumy is a senior staff reporter with MercomIndia.com covering business and energy news since 2016. Prior to Mercom, Saumy was a copy editor at Thomson Reuters. Saumy earned his Bachelors Degree in Journalism & Mass Communication from the Manipal Institute of Communication at Manipal University. More articles from Saumy Prateek.