Solar project developer SunSource Energy today said it will set up a 2.5 MW solar rooftop at Jamia Millia Islamia University, which would help the institution save around Rs 1 crore in energy cost every year.
Jamia Millia recently signed an MoU with SunSource Energy Pvt. Ltd. to execute the project on a turnkey basis for the next quarter of a century under the Renewable Energy Service Company model (RESCO).
The electricity would be supplied at Rs 3.39 per unit for a period of 25 years. The MoU is in line with the government's target of installation of 40 GWp grid-connected solar rooftops by 2022.
The installation of solar panels on over 50 rooftops of various buildings like central library, colleges, and department of Jamia and the hostels has already commenced.
Jamia Millia University Vice-Chancellor Talat Ahmed in the statement said that the institution's current project is an attempt to run it on renewable energy and will position it as a leader among central universities when it comes to the use of renewable energy.
The university will incur no cost on the setup and maintenance as it will be taken care by SunSource Energy, with the support from the SECI.
With the installation of the 2.5 MW plant, Jamia Millia Islamia is expected to save over Rs 1 crore annually apart from significantly contributing to the environment," Kushagra Nandan, COO & Co-founder of SunSource Energy said in the statement.
SunSource is currently involved in over 200 MW of solar projects in India and internationally in EPC/development capacity and targets to reach 1.5 GW in capacity by 2025. The firm expects to reach an annual turnover of over Rs 600 crore by 2020.
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