Open Access (Group Captive)
Overview
At V-TECH Renewables, we are passionate about encouraging the use of renewable energy sources by developing cutting-edge Open Access Group Captive Solar models. Our goal is to help businesses achieve their growth and sustainability objectives by offering them dependable, affordable, and eco-friendly solar energy solutions.
It's Benefits
- Savings of 25-40% per unit electricity.
- Waiver of 'Cross-subsidy surcharge' on minimal 26% capital investment.
- Waiver of additional surcharge under 'Captive' and 'Group Captive' models.
- No technical expertise required for complete energy transition.
- Bulk power consumers can meet 70-80% of energy from RE.
Explanation of the Group Captive (Open Access) Model
Formation of Group
- Multiple industrial or commercial entities join together to form a group captive.
- These entities typically belong to the same industry or have similar electricity requirements.
- The group may include businesses operating in manufacturing, IT, textiles, pharmaceuticals, or any other sector with high electricity consumption.
Ownership and Operation
- Each member of the group owns a share or stake in the captive power plant, either directly or through a separate entity established for this purpose.
- The captive power plant may utilize various sources of generation, including conventional sources like coal, natural gas, or renewable sources like solar, wind, or biomass.
- The group may choose to operate the captive power plant themselves or engage a third-party entity to manage the plant's operations and maintenance.
Electricity Procurement and Distribution
- The primary purpose of the group captive is to generate electricity to meet the energy needs of its member entities.
- Electricity generated by the captive power plant is distributed among the members based on their agreed-upon share or allocation.
- In some cases, excess electricity generated beyond the group's requirements may be sold to the grid, providing additional revenue for the members.
Regulatory Framework and Benefits
- The establishment and operation of group captive power plants are governed by regulatory frameworks set forth by local electricity regulatory authorities.
- Group captive arrangements often offer benefits such as reduced electricity costs, improved reliability, and greater control over energy supply.
- Members may also benefit from financial incentives, tax breaks, and exemptions available for captive power generation or renewable energy utilization.