Oakridge Energy, a Solar energy firm has signed agreements with Delhi Government & Kendriya Vidyalaya Sangathan to solarise schools in Delhi. The project will be developed by Oakridge & subsidised under the Ministry of New & Renewable Energy’s (MNRE) capital subsidy scheme for Government Buildings.
i.The installation of solar plants will help in making institutions energy independent, reduce their electricity bills and generate additional income through sale of surplus power.
ii.Target – Oakridge has set a target to solarise 1, 000 schools & educational institutions by 2022.
Key Points:
i.In 2020, Oakridge solarized around 15 schools of the Department of Education in Delhi which included the Oakridge Energy’s largest solar power project of 217 KW in Delhi University at Lady Irwin College.
ii.The solarization of government schools and colleges is being undertaken under ‘Delhi Solar Policy 2016-20’.
iii.Surplus powers generated by the schools will be purchased by Power Distribution Companies (DISCOMS) – BSES & Tata Power Delhi Distribution Limited (Tata Power DDL) previously known as North Delhi Power Limited (NDPL) for INR 5.65/kWh.
iv.BSES & Tata Power DDL will provide net-metering and the solar power thus generated will count towards their renewable power obligations.
Net metering – is an electricity billing mechanism which allows consumers who generate some or all of their own electricity to use that electricity anytime, instead of when it is generated. Excess electricity will be stored in the electric utility’s grid.
Central Subsidy Scheme:
i.In May 2019, MNRE announced a Central subsidy scheme to encourage use of rooftop solar systems.
ii.Under the scheme, Public Sector Undertakings (PSUs) are eligible to take incentive on the basis of energy generation.
Recent Related News:
i.On April 29, 2020 According to Mercom India Research’s ‘India Solar Market Leaderboard 2020’ report, India has installed 7.3 Giga Watt (GW) of solar power in Calendar Year(CY) 2019 which consolidates its position as the 3rd largest solar market in the world after China and U.S.
About Oakridge Energy:
Chief Executive Officer – Shravan Sampath
Location – New Delhi
