KLK Ventures Private Limited Selected to Implement 5 MW Solar PV Projects in Uttar Pradesh Under RESCO Model

KLK Ventures Private Limited is proud to announce its selection by the Uttar Pradesh New & Renewable Energy Development Agency (UPNEDA) as one of the solar power developers for an ambitious 500 MW grid-connected rooftop solar photovoltaic (PV) project. This project will be implemented on government, semi-government buildings, and other institutions across Uttar Pradesh under the Renewable Energy Service Company (RESCO) model. KLK Ventures has been allocated 5 MW of the total capacity, divided into two categories: 25 kW to 200 kW and 201 kW to 2000 kW.

The RESCO model is a unique and innovative approach to deploying solar energy systems, offering several benefits to building owners and the environment. Under this model, KLK Ventures will own, install, operate, and maintain the solar PV systems across the designated facilities. This arrangement ensures that building owners do not bear upfront costs and are relieved of maintenance responsibilities.

According to Akshat Jain, CEO of KLK Ventures Private Limited, “Being selected for this project is a testament to our commitment to advancing renewable energy solutions in Uttar Pradesh. The RESCO model aligns perfectly with our mission to provide sustainable and cost-effective energy solutions to institutions, supporting their efforts towards energy independence and environmental stewardship.”

The RESCO model operates through a Power Purchase Agreement (PPA), where electricity generated by the solar PV systems is sold to building owners at competitive tariff rates, typically lower than conventional electricity tariffs. This agreement guarantees stable and predictable energy costs over the long term, benefiting participating institutions financially while reducing their carbon footprint.

In addition to financial benefits, the RESCO model incorporates net metering, allowing surplus electricity generated by the solar PV systems to be fed back into the grid. This excess energy is credited to the building owner’s electricity bill, further enhancing cost savings and promoting sustainable energy practices.

By implementing these solar PV projects, KLK Ventures aims to contribute significantly to Uttar Pradesh’s renewable energy goals while supporting local institutions in their transition to clean energy solutions. The initiative underscores KLK Ventures’ commitment to sustainability and its role in driving positive environmental impact through innovative energy solutions.