Rs 8.5 Crore Massive Solar Investment! Solar Firm Secures Multi-Crore Deal with Key Hospital
Landmark Agreement Paves the Way for a 2.4 MWp Solar Power Project Under Group Captive Open Access
Epic Energy Limited has received a Letter of Intent (LOI) from a 275-bed NABH-accredited Oncology and Cancer Care Center in Nashik, Maharashtra. The agreement is for the purchase of 2.4 MWp solar power, which will be generated from Epic’s upcoming Solar Park in Solapur, Maharashtra. The power supply will be provided under the Group Captive Open Access Scheme.
Strategic Significance of the Deal
This agreement marks a key milestone for Epic Energy as it secures its first major client for the planned solar park. Bharat Mehta, Group Director of Epic Energy, highlighted the importance of this deal, stating that it sets the stage for future expansions. He emphasized that the project is expected to be completed by FY 26, with ongoing efforts to bring in additional clients for the remaining capacity.
Financial and Development Plans
The solar park will be developed under a Special Purpose Vehicle (SPV) at an estimated cost of Rs 8.50 crores. The funding for the project will be sourced through a balanced mix of debt and equity. Group CFO Nikhil Morsawala stated that partnering with financially stable institutions with strong credit ratings is crucial for long-term solar power agreements. The company is optimistic about onboarding more clients in the near future.
About Epic Energy
Incorporated in 1991, Epic Energy Limited specializes in Energy Management Solutions, Power Saving Solutions, and Renewable Energy Solutions. The company is actively involved in energy conservation and the production of renewable energy devices.
Business Operations and Offerings
Epic Energy provides a wide range of energy management and power-saving solutions, including power savers, APFC panels, automatic light controllers, and remote energy management software. In the renewable energy sector, it offers solar products, UPS systems, and inverters. The company has its own manufacturing facilities and also collaborates with global suppliers for renewable energy devices.
Client Base and Market Presence
Epic Energy serves both government and private sector clients. Government clients include Punjab Energy Development Agency and various municipal corporations across India. In the private sector, it has worked with Alkem Laboratories, Aditya Park Hotel, Fr. Muller Hospital, and Resilient Technologies.
With this latest deal, Epic Energy is strengthening its position in the renewable energy market and reinforcing its commitment to sustainable energy solutions.
Disclaimer: The article is for informational purposes only and not investment advice.