Delhi-NCR based Gaurs Group, a real estate developer, has forayed into energy sector with 15 Mega Watt solar power plant at Mahoba in Uttar Pradesh.
The project is spread over 50 acres area and is built with an investment of Rs 80 crore and has been financed through private equity as well as a funding of Rs 55 crore from State Bank of India, the company said in a statement.
According to the realty firm, the plant will generate 2.25 crore units of electricity annually and project's capacity can be enhanced as per future requirements.
"We are delighted to have completed the 15 MW Mahoba solar power project and dedicating it to the nation on World Environment Day. The minimum useful life of the plant is 26 years. However, it has the potential to operate beyond the stipulated time frame," said Manoj Gaur, chairman and managing director, Gaurs Group.
The company shared that this will result in a reduction of 18 thousand tonnes of carbondioxide equivalent annually.
The electricity produced by the plant will be integrated into the central grid and utilized for the group’s projects: Gaur City Mall, Gaur Central Mall, The Gaurs Sarovar Portico, and Gaur City Centre.
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Gaurs group said that it was perhaps the first one to adopt solid waste management in the real estate sector. More than 60,000 kg of solid waste is collected and converted to compost everyday which is nearly 21,900 metric tonnes annually from its delivered projects.
Completing the 15 MW Solar power plant in Mahoba marks a significant milestone for Gaurs Group. It reinforces its position as a trailblazer in the real estate sector, setting new benchmarks for environmentally conscious development.
Gaurs Group is a leading real estate developer based in Delhi NCR which has delivered over 65 projects spread over 60 million square feet comprising around 65,000 dwelling units.