Real Estate Developer Gaurs Group Sets Up First 15 MW Solar Project

EU Action Plan Proposes 40% Investment In Electricity Grids Till 2030

Real estate developer Gaurs Group has entered into the energy sector and marked the foray with the establishment of a 15 MW solar project at Mahoba, Uttar Pradesh.

An investment worth INR 70 cr has been made into the said project, which spreads to an area of 50 acres. As per the company statement, the project has been financed by way of private equity and has received funding from the State Bank of India for INR 55 cr. The project will generate 2.25 cr units of electricity every year. The plant capacity can be augmented in the future depending on requirements. The firm revealed that the project can curb 18000 tons of carbon dioxide on an annual basis.

The electricity that the plant generates will be infused into the grid and employed for the projects of the Gaurs Group, such as Gaur City Mall, Gaur Central Mall, The Gaurs Sarovar Portico, and Gaur City Centre.

“We are delighted to have completed the 15 MW Mahoba solar power project. 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.

Further, the Gaur Group claimed to be the first in the real estate industry to employ solid waste management.

India has set sights on reaching net zero emissions by 2070 and the real estate industry, a major emitter of carbon emissions, will have a crucial role to play in curbing them to make this goal a reality.