MYSUN to Develop 200 MW Solar Portfolio, Plans to Invest Rs 600 Crore in Three Years

Rooftop solar firm, MYSUN plans to invest Rs 600 crore in the next three years to develop a 200MW solar portfolio of the first phase of its recently launched asset vehicle. This new venture will provide bespoke solar energy solutions to large corporate, industrial, and commercial establishments on a built, own, operate, and transfer (BOOT) or RESCO (Renewable Energy Service Company) model, Gagan Vermani, CEO and Founder, MYSUN told PTI.

While commenting on the development, quoted by PTI, he further said, "MYSUN is aiming to invest Rs 600 crore to develop a 200 MW solar portfolio of the first phase (of three years) of its recently launched asset vehicle MYSUN+. The new asset vehicle will provide on-site and off-site solar energy solutions to industrial and commercial clients under the RESCO model.”

MYSUN+ has already drawn some of the most well-known Indian and multinational corporations as clients, and has completed or is currently completing projects in Rajasthan, Madhya Pradesh, Andhra Pradesh, and Puducherry.

As mentioned, and reported by PTI, MYSUN+ will use premium solar equipment to ensure high performance and long lifespan through world-class engineering, highest safety, and service standards. It will offer flexible power sale contracts to its customers and therefore help make their 25 years solar journey easy, reliable, and cost-effective, the company claimed.

"With the COVID-related impact on businesses driving corporates to accelerate their cost-reduction initiatives through solar, we found an opportunity to leverage our digital platform, large client base, and execution capabilities through the launch of MYSUN+.

"It allows us to cater to the client segment which wants to opt for a cheaper source of power without any kind of upfront capital investment. MYSUN+ will open new opportunities and scale for our group," said Vermani, which PTI mentioned in its report.

With this new venture, MYSUN becomes a complete 360-degree solar company meeting vastly different financing needs of its diversified client base of the large, medium, and small industry as well as homes, all under one roof.