The execution capabilities of Greenlance team was on display right through and they delivered on all of their commitments
For the first 15 years, the solar power plant is the property of Greenlance Energy Private Limited. After 15 years, the ownership is transferred to the client using a formal agreement.
Yes. At any point after the initial lock-in, the client can purchase the project at pre-determined values.
(Unlikely Scenario) Electricity continues to be available from the grid and units are billed from the current service provider as is currently the situation (Adani/TATA/BEST etc.)
(Ideal Scenario) The bill from the current service provider becomes zero. Most projects are optimized for this unless there is a space constraint.
The excess power is pumped into the grid and is adjusted on a quarterly basis typically by Adani/TATA/BEST.
If the average yearly units increase significantly, the project can be scaled up or upgraded to a bigger size, subject to availability of idle space. The commercials need to be mutually agreed upon by the customer and Greenlance for such an upgrade.
Solar Projects are capital-intensive. Greenlance Energy invests the capital of the project and installs the plant at the premises of the client. As a standard risk management policy the deposit is to safeguard the interests of the investment made by the company.
The deposit amount is equivalent to one year of client’s electricity bill.
The power generating asset is transferred to the client against the security deposit.
The performance risk is completely inherited by Greenlance Energy as its revenue depends upon the achieving the performance . If the electricity units are not generated efficiently, Greenlance cannot bill the client and loses on potential revenue.
To protect the client, buy out values are pre-determined and made part of the agreement. At anytime after the initial lock-in period the client can buy out the project. The client has the right to choose any partner for annual maintenance and once the client has paid and acquired the power generating asset they have all the rights to the electricity units generated going forward.
No. The electricity is constantly powered by the grid.
The model proposed to the Customer is that of a grid connected Solar plant. This model does not involve storage of power and hence batteries are not required. Batteries are also expensive and need to be replaced at regular intervals.
Solar panels face degradation over a period of time. This is very small and less than 1% every year. This is already accounted for in the calculations of the agreement.
Greenlance Energy will provide a mobile app based access to monitor the daily/weekly/monthly generation of units for the information of its customers.
Greenlance Energy is the recipient for the payments for all electricity generated from the solar plant.
To ensure access to the plant for maintenance/efficiency tuning.
To pay the electricity bills on time.
To ensure that access to the plant and equipment are duly secured.
To ensure that there is no loss or damage to the equipment.
No, the entire operation will be managed by Greenlance Energy. However, a basic training will be given to the security team personnel to be able toggle (switch on /off) the safety lever in case of extreme events like cyclones, earthquakes etc.
Greenlance Energy will maintain the project.
Generally, two visits a month can be expected every month. However, this may change depending on the output observation we receive at our monitoring centre.