Delhi-NCR-based real estate developer Gaurs Group has forayed into the energy sector by constructing a 15 MW solar power plant at Mahoba in Uttar Pradesh, with an investment of Rs 80 crore. The project is spread over 50 acres, the company said.
The company has said that the plant will generate 2.25 crore units of electricity annually, and the project's capacity can be enhanced as per future requirements.
The company added that the solar plant has been financed through private equity as well as a loan of Rs 55 crore from the State Bank of India.
"We are delighted to have completed the 15 MW Mahoba solar power project and are dedicating it to the nation on World Environment Day. The minimum useful life of the plant is 26 years," Manoj Gaur, Chairman and Managing Director of Gaurs Group, said on June 5.
The company stated that the plant will help cut CO2 emissions by 18,000 tonnes annually.
The electricity produced by the plant will be integrated with the central grid and utilised for the group’s projects, which include the Gaur City Mall, Gaur Central Mall, The Gaurs Sarovar Portico, and Gaur City Centre.