What is SWELECT’s Open Access Power Solution?
The Industrial and Commercial sectors consumes over half of the World’s energy. High fossil energy usage is not only costly to the environment due to rising carbon emissions, but also affecting company’s profit margin. For Industries in particular, utility bills account for at least 10% of company revenue. With SWELECT’s solar power solutions, high fossil energy HT consumers are beginning to utilize green energy to benefit both their profits and the communities they serve.
As per Electricity act 2003, high power usage consumers, typically HT Commercial & Industrial consumers may meet their RPO (Renewable Purchase Obligation) commitment by choosing power purchase from IPP (Individual power producer), who produces RE (Renewable energy) from their Off-site Solar farms and supply to them at a reasonably lower than State DISCOM( Distribution companies) tariffs. Buying green energy for their consumption, reduces not only their power cost, but helps to avoid the CO2 emissions due to fossil fuel production. SWELECT offers very attractive Open Access plans to meet the green energy demand of its clients.
As the name suggests, this plan enables one or more group of HT consumers to invest jointly 26% of the equity in the SPV project. Consumers signs long term PPA (Power Purchase Agreement) with Swelect and collectively consumes minimum 51% of the power generated from the Solar SPV which will be developed and maintained by Swelect. Swelect holds the ownership of the solar plant, and the consumers pay only for the energy delivered to them as per the PPA through the State DISCOM grid.
Key features of Group Captive Plan
This Open Access plan is an attractive model for HT consumers who can enjoy the risk-free discounted tariff without any investment on the project. Client signs a long term power purchase agreement (PPA) with Swelect on a discounted tariff for an agreed tenure and gets the contracted energy delivered to their HT locations. Client pays only for the consumed units along with state DISCOM open access charges and other stipulated charges.
Key features of Third Party Power purchase plan