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Solar energy at Uniworld Gardens 400kW to provide back up power PPA @Rs.15/kWh

Solar energy at Uniworld Gardens 400kW to provide back up power PPA @Rs.15/kWh. Executive summary. Solar irradiation in India is one of the best in the world At current prices, solar power is competitive to diesel genset power

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Solar energy at Uniworld Gardens 400kW to provide back up power PPA @Rs.15/kWh

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  1. Solar energy at Uniworld Gardens 400kW to provide back up power PPA @Rs.15/kWh

  2. Executive summary • Solar irradiation in India is one of the best in the world • At current prices, solar power is competitive to diesel genset power • Uniworld Gardens can have 400kW of roof top solar to meet ~20% of backup power needs • 400kW requires a capex of Rs.6 Crores • Free Energy can install solar power with no initial cost at Uniworld • Free Energy will require a power purchase agreement with Uniworld Gardens with assured offtake for 10 years at Rs.15/unit

  3. Roof-top solar is the optimal approach to tap this radiation • Roof-top solar enables production at point of consumption eliminating grid losses • Solar power is now competitive with diesel back-up and in some regions at par with commercial power tariffs Solar irradiation in India is one of the best in the world Yearly sum (kWh/m2) Optimum tilt in India varies from 10-35 degrees South

  4. Roof-top Solar PV is cheaper than diesel power and competitive with commercial grid tariffs in some regions Comparison of cost per power unit [INR/kWh] Max cost Rs.15/kWh • Customers using diesel powered back-up can reduce costs significantly by immediately switching to roof-top solar with battery backup Max cost Min cost Max cost Rs.10/kWh Min cost • Customers paying commercial tariffs of >Rs.8/kWh can switch to roof-top solar without battery backup Rs.5/kWh Min cost Diesel power Solarpower Grid power* * Tariff depends on state and consumer

  5. Solar power is however expensive and capex is the biggest constraint • Solar power with battery banks costs Rs.15 crores/MW • Comparably diesel genset costs are of the order of Rs.2-4 crores/MW • Initial capex is the biggest constraint for large scale adoption of solar power • Free Energy has devised a solution to enable customers to pay only for the power they consume • Free Energy will invest the capex

  6. How much solar power can be set up at Uniworld Gardens? • Solar panels can be set up on the roof tops of the 8 buildings • Total area available: 6200 sq. m • Solar capacity that can be set up (assuming 80% usable):400 kW • System capex: Rs.6 crores

  7. Solar will meet ~20% of backup power needs at Uniworld Gardens 400kW will generate 5.3 lakh kWh of electricity per annum

  8. What is the Free Energy value proposition? • Free Energy will raise the capital needed to set up these solar plants • Free Energy will install and maintain the solar panels without any initial capex from Uniworld Gardens • Free Energy will sign a PPA (power purchase agreement) with the residents of Uniworld Gardens • The PPA entitles Free Energy to receive Rs.15 for every unit of electricity consumed from solar panels for 10 years(genset power is at ~Rs.13/kWh and escalating at 10% p.a.) • Free Energy will transfer ownership of panels after 10 years to Uniworld Gardens

  9. Next steps Uniworld Gardens RWA to provide in-principle approval to the Free Energy approach (initial contract to be signed between the two parties) Free Energy will do a detailed system design to determine exact requirements Free Energy will sign a PPA contract with Uniworld Gardens RWA Free Energy will raise investments for the project on the PPA (2-3 months) Free Energy will install solar power at Uniworld Gardens (1-2 months) Free Energy will maintain the solar panel system and charge residents on a monthly basis (Rs.15/unit) for 10 years

  10. Our vendor & technology tie ups

  11. FAQs • Does the solar eliminate the need for diesel back up? • No, solar can only substitute some of the diesel you consume. • Also, production is only during the day (battery bank enables consumption smoothing through demand cycles though) • >85% of diesel genset costs incurred every month are due to the opex (diesel consumed) • What maintenance do I need for these installations? • Free Energy provides complete O&M for the solar system • Only maintenance needed are: cleaning of solar panels every 15 days, replenishing water levels in battery bank every year • Every 5 year cycle, batteries will need complete replacement • What happens when there is cloudy/ foggy weather? • Radiation incidence on panels is lower. Therefore, lesser electricity is produced. • However, India is well endowed with solar radiation (refer average radiation levels) all year • How long will it take to install these solar units? • Post raising funds, these installations have 2-4 months construction lead time without any intrusion of existing power supply set up

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