Gaurs Group, a real estate developer based in Delhi-NCR, has made its entry into the energy sector with the completion of a 15 MW solar power plant in Mahoba, Uttar Pradesh. The company has invested Rs 80 crore in this project, which spans across 50 acres of land. The solar plant is expected to generate 2.25 crore units of electricity annually, and its capacity can be expanded in the future to meet growing demands.
The financing for the solar plant was secured through a combination of private equity and a loan of Rs 55 crore from the State Bank of India. The completion of the project coincided with World Environment Day, and Gaurs Group’s Chairman and Managing Director, Manoj Gaur, expressed his delight in dedicating the plant to the nation. The plant is expected to have a minimum operational life of 26 years and will contribute to a reduction of 18,000 tonnes of CO2 emissions annually.
The electricity generated by the solar plant will be integrated into the central grid and utilized for various projects under the Gaurs Group, including the Gaur City Mall, Gaur Central Mall, The Gaurs Sarovar Portico, and Gaur City Centre. The foray into the energy sector marks a significant milestone for Gaurs Group as it expands its portfolio and embraces sustainable practices to contribute to a greener future.