Latest news with #Resco
Time of India
6 days ago
- Business
- Time of India
Chandigarh MC buildings set to get rooftop solar panels under rent-a-roof model
Chandigarh: In a significant move, approximately 100 buildings of the municipal corporation (MC) are all set to have solar energy on their rooftops, as the Chandigarh Renewable Energy and Science and Technology (CREST) has sent a detailed MoU to be signed with the corporation for this project. As per the proposal, the MC will not have to spend even a single penny on this project, and they will earn around Rs 40 lakh annually as rent from the private company. Now, this detailed MoU is coming in the monthly general house meeting of the MC, scheduled for Tuesday, for deliberation and subsequent approval of the members. As per the proposal, the solar panels will be installed under a 'Rent-a-Roof', Resco Model (Renewable Energy Service Company) framework, where the selected company through bids will install the solar on all the selected buildings' rooftops, maintain them, and pay rent to the MC. The move came following a high-level meeting under the chairmanship of chief secretary Rajiv Verma, recently. The proposal of the CREST, a copy of which is with TOI, reads, "Chandigarh administration has been consistently working towards the saturation of rooftop solar installations across all govt and private buildings in the city. To utilise this potential effectively, CREST proposes the implementation of grid-connected rooftop solar plants on MC buildings through the 'rent-a-roof' framework. Under this model, the developer offering the highest rooftop rent per unit of energy generated shall be selected through competitive bidding. This will ensure regular revenue for MC, with zero capital expenditure or maintenance responsibility." The letter further reads, "The rent-a-roof approach allows MC to monetise its rooftop assets, receive guaranteed bi-monthly income, and avoid long-term tariff commitments. The total feasible rooftop solar capacity assessed on MC buildings is approximately 3MW. Based on generation potential and other parameters, MC stands to earn an estimated Rs 39-40 lakh per year, depending on the rent rate received through bidding." Following this, CREST has requested approval of the proposed model and MoU and timely consent to initiate the process. Once approved by the MC's general house, the CREST shall thereafter proceed with the tendering and execution of the project in coordination with the MC. Key Terms of MoU Rooftop rent to be paid by the Resco developer bi-monthly based on the energy generation under the gross metering arrangement No damage to MC roofs - any structural damage to be repaired by the Resco Water supply for periodic solar panel cleaning to be provided by MC Plant security to be provided by MC Insurance and operational responsibilities lie with Resco Escrow mechanism for transparent and timely rent transfers
Time of India
6 days ago
- Business
- Time of India
Chandigarh MC buildings set to get rooftop solar panels under rent-a-roof model
1 2 Chandigarh: In a significant move, approximately 100 buildings of the municipal corporation (MC) are all set to have solar energy on their rooftops, as the Chandigarh Renewable Energy and Science and Technology (CREST) has sent a detailed MoU to be signed with the corporation for this project. As per the proposal, the MC will not have to spend even a single penny on this project, and they will earn around Rs 40 lakh annually as rent from the private company. Now, this detailed MoU is coming in the monthly general house meeting of the MC, scheduled for Tuesday, for deliberation and subsequent approval of the members. As per the proposal, the solar panels will be installed under a 'Rent-a-Roof', Resco Model (Renewable Energy Service Company) framework, where the selected company through bids will install the solar on all the selected buildings' rooftops, maintain them, and pay rent to the MC. The move came following a high-level meeting under the chairmanship of chief secretary Rajiv Verma, recently. The proposal of the CREST, a copy of which is with TOI, reads, "Chandigarh administration has been consistently working towards the saturation of rooftop solar installations across all govt and private buildings in the city. To utilise this potential effectively, CREST proposes the implementation of grid-connected rooftop solar plants on MC buildings through the 'rent-a-roof' framework. by Taboola by Taboola Sponsored Links Sponsored Links Promoted Links Promoted Links You May Like Bo Derek's Probably The Most Gorgeous 68-Year-Old. Paperela Undo Under this model, the developer offering the highest rooftop rent per unit of energy generated shall be selected through competitive bidding. This will ensure regular revenue for MC, with zero capital expenditure or maintenance responsibility." The letter further reads, "The rent-a-roof approach allows MC to monetise its rooftop assets, receive guaranteed bi-monthly income, and avoid long-term tariff commitments. The total feasible rooftop solar capacity assessed on MC buildings is approximately 3MW. Based on generation potential and other parameters, MC stands to earn an estimated Rs 39-40 lakh per year, depending on the rent rate received through bidding. " Following this, CREST has requested approval of the proposed model and MoU and timely consent to initiate the process. Once approved by the MC's general house, the CREST shall thereafter proceed with the tendering and execution of the project in coordination with the MC. Key Terms of MoU Rooftop rent to be paid by the Resco developer bi-monthly based on the energy generation under the gross metering arrangement No damage to MC roofs - any structural damage to be repaired by the Resco Water supply for periodic solar panel cleaning to be provided by MC Plant security to be provided by MC Insurance and operational responsibilities lie with Resco Escrow mechanism for transparent and timely rent transfers
Time of India
18-07-2025
- Business
- Time of India
Panaji's new municipal market eyes solar power
Representative photo Panaji: The new municipal market building in Panaji is expected to be integrated with solar panels as the Corporation of the City of Panaji (CCP), in collaboration with the Goa Energy Development Agency (GEDA), has initiated a proposal to power the market through clean, renewable energy. A CCP official confirmed that a formal request was made to the GEDA, which responded positively. 'We are now awaiting govt's approval to take the next steps,' the official said. 'If implemented, the municipal market will be the city's first govt building to be solar powered.' Buildings integrated with this technology run on solar energy, primarily derived through photovoltaic (PV) panels, to generate electricity. The plan may be executed either through govt funding or via the Renewable Energy Service Company (Resco) model. 'Under the Resco model, a third-party investor sets up the infrastructure and recoups the investment through rental payments from the beneficiary — in this case, the CCP,' a GEDA official told TOI . The GEDA has already floated a similar tender under this model for the integration of solar panels on other govt buildings in the city, awarding the task to a Maharashtra-based company to install 13MW of rooftop solar power capacity across Goa. The solarisation of several govt offices and govt-run educational institutions across the state is therefore on the anvil. 'The work order for solar panel procurement was issued, and installation across all govt buildings is scheduled to begin within this financial year,' said a GEDA official. 'A total of 383 govt buildings will be among the first to be covered in the initial phase of the rollout.'
Time of India
08-07-2025
- Business
- Time of India
Delhi Chief Minister launches rooftop solar initiative to cut electricity bills
In a move to reduce electricity bills and promote clean energy usage, chief minister Rekha Gupta has initiated widespread implementation of rooftop solar installations across the city under Resco or the utility-led aggregation model. The step, in line with the guidelines of the Union new and renewable energy ministry and facilitated by Delhi Electricity Regulatory Commission (DERC), is expected to bring down the overall cost of electricity and reduce dependence on conventional energy sources, stated the chief minister's office. Gupta said, "Our vision is to make Delhi a clean, energy-efficient and environmentally responsible capital. Through the Resco model , we are ensuring that citizens of Delhi get access to solar energy without any upfront cost. This is a big stride towards PM Narendra Modi's vision of PM Surya Ghar , Muft Bijli Yojana." Under the Renewable Energy Service Company model, both domestic and non-domestic consumers can now get solar rooftop systems installed at their homes or institutions with zero capital investment. Consumers have to offer their roofs for solar plants and the installation will be done by the developer, which will be engaged by the discom concerned through a transparent and competitive bidding process approved by DERC. This ensures that solar power energy is made available to the consumers at a cheaper rate compared to the power currently being supplied by the discoms through conventional sources, said CMO.
Time of India
07-07-2025
- Business
- Time of India
Consumers in Delhi to get solar power infra for free
New Delhi: In a move to reduce electricity bills and promote clean energy usage, chief minister Rekha Gupta has initiated widespread implementation of rooftop solar installations across the city under Resco or the utility-led aggregation model. The step, in line with the guidelines of the Union new and renewable energy ministry and facilitated by Delhi Electricity Regulatory Commission (DERC), is expected to bring down the overall cost of electricity and reduce dependence on conventional energy sources, stated the chief minister's office. Gupta said, "Our vision is to make Delhi a clean, energy-efficient and environmentally responsible capital. Through the Resco model, we are ensuring that citizens of Delhi get access to solar energy without any upfront cost. This is a big stride towards PM Narendra Modi's vision of PM Surya Ghar, Muft Bijli Yojana." You Can Also Check: Delhi AQI | Weather in Delhi | Bank Holidays in Delhi | Public Holidays in Delhi Under the Renewable Energy Service Company model, both domestic and non-domestic consumers can now get solar rooftop systems installed at their homes or institutions with zero capital investment. Consumers have to offer their roofs for solar plants and the installation will be done by the developer, which will be engaged by the discom concerned through a transparent and competitive bidding process approved by DERC. This ensures that solar power energy is made available to the consumers at a cheaper rate compared to the power currently being supplied by the discoms through conventional sources, said CMO.
