Tag Solar

Mumbai, 24 October 2024: Orb Energy (“Orb”) has successfully installed an 800-kilowatt rooftop solar system at Esteem Industries Private Limited in Alonde, Wada, Maharashtra. This installation is set to generate over 10 lakh units of electricity annually by harnessing solar energy to meet the factory’s electricity demands. In addition to its economic benefits, the project is projected to reduce approximately 1,000 tonnes of carbon emissions (CO2e) each year, reinforcing its role as a key initiative for both cost savings and environmental sustainability.

Esteem Industries is India’s leading manufacturer of surfactants and specialty chemicals with over 30 years of experience. Given the high energy consumption typical of the chemical manufacturing sector, this solar solution offers significant cost-saving potential. The project is expected to generate approximately 3,100 kilowatt-hours of solar energy daily, covering around 80% of Esteem Industries’ daytime electricity requirements. The company is projected to recover its investment in solar energy within 2 years and 3 months, highlighting both economic and environmental advantages.

Saurabh Seth, Orb Energy’s General Manager – PV Projects, commented, “As part of our ongoing commitment to empowering SMEs and MSMEs with solar power solutions, this partnership further underscores our dedication to sustainability. Our solar installations not only bring substantial economic savings but also assist companies in meeting their social, environmental, and governance (ESG) goals.”

Orb Energy’s vertically integrated approach spans from manufacturing to installation, offering businesses a seamless transition to solar power. Additionally, Orb provides collateral-free loans to facilitate solar adoption. With over 310 megawatts of solar systems installed across India, Orb further aims to reinforce its position as a major player in India’s renewable energy sector.

Mumbai, Oct 16 ‘2024: Avaada Energy, India’s leading renewable energy Independent Power Producer (IPP) and an arm of Avaada Group, is pleased to announce the successful closure of approximately INR 597 crore (~USD 71.1 Million) in refinancing for its Commercial & Industrial (C&I) solar projects in the states of Karnataka and Maharashtra.

The refinancing was secured from NIIF Infrastructure Finance Limited (NIIF IFL), an infrastructure debt fund dedicated to refinancing high-quality operational infrastructure projects. The refinancing from NIIF IFL has reaffirmed the strength and stability of Avaada’s solar projects through this refinancing deal.

These projects currently supply electricity to various leading corporates in the country, including Bharati Airtel, Motherson, Bharat Forge, STT, Nxtra Data, Lumax etc., supporting them in their energy transition goals.

The refinancing from NIIF IFL secured significantly improved commercial terms to facilitate prepayment of existing loan facility along with delivering reduction in finance costs while releasing capital for future deployment.

Commenting on the development, Mr. Vineet Mittal, Chairman of Avaada Group, said, “We are thrilled to strengthen our partnership with NIIF IFL. This financing is a testament to our strategic vision of developing a diversified and high-quality energy transition portfolio to attract specialized capital while delivering state-of-the-art solutions for our C&I customers. The improved financing terms enhance the financial position of these projects and create value for all stakeholders.”

“This refinancing aligns with Avaada’s commitment to a sustainable future and underscores its contribution towards effectively reducing carbon footprints on a global scale,” Mr. Mittal added.

Tembo Global Industries Ltd., a prominent player in the industrial sector, is excited to announce its entry into the Solar Mechanical, Electrical, and Plumbing (MEP) segment. This strategic move will leverage the expertise of a newly assembled team of engineers, each with over a decade of experience in the field. Tembo Global Industries is set to begin procurement orders and participate in Power Purchase Agreement (PPA) tendering with various government organizations.

With a robust portfolio in engineering mechanics, design load calculations, and project execution across multiple sectors—including oil and gas, chemicals, construction, and HVAC—Tembo Global Industries is well-positioned to make significant contributions to the growing solar energy sector. The global solar energy market is projected to exceed  2025, fueled by increasing demand for renewable energy and advancements in solar technology. In India, the solar energy market is rapidly expanding, with the country aiming for around 300 GW of solar capacity by 2030.

“The renewable energy sector is undergoing significant change, and we are excited to be part of this evolution,” said Mr. Sanjay Patel, Managing Director of Tembo Global Industries Ltd. He added, “By entering the Solar MEP segment, we aim to enhance the efficiency and safety of solar installations while ensuring compliance with local codes and regulations. Our experienced team is prepared to meet the challenges of this dynamic market.”

The Solar MEP segment encompasses essential components of solar energy systems, including structural design and electrical wiring. Effective MEP design optimizes energy production and minimizes risks associated with electrical and structural failures. As demand for solar installations continues to rise, driven by government incentives and decreasing technology costs, Tembo Global Industries is committed to providing cost-effective solutions that enhance accessibility to solar energy.

Tembo Global Industries is renowned for its export-oriented operations and holds the prestigious Star Export House certification. This new initiative reaffirms the company’s dedication to innovation and sustainability, further solidifying its position in the industrial sector.