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Can real estate promote solar energy!

Jakson Group

Santosh Sinha/RealtyMyths

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Promotion of renewable energy is one of the prime objectives of Shri Narendra Modi-led NDA Government. It has set a target of bringing 175 GW of renewable energy by the year 2022 and to achieve it, Honb’le PM has put his one of the best personnel on task i.e. Shri Piyush Goyal. Leaving no stone unturned, Shri Goyal, Honb’le Minister of Power and Coal, believes India would achieve the 100 GW target of installed capacity of solar energy by the end of 2017 itself. To further promote generation and usage of solar energy, government has urged state governments to make stringent rules which can help renewable energy cut the usage of non-renewable resources and completely replace it in due course of time. It seems every State Government has taken up this task seriously.  Recently, Haryana Government, under its Solar Power Policy 2016, made installation of roof-top solar panels mandatory for housing societies.

In line with the vision of Union Government and for the benefit of society at large, Vatika Group has set an example to be followed by other. The Group is the first real estate developer to install solar panels at its projects. Through this and numerous other efforts the realtor is trying to reduce its carbon footprint and give impetus to the use of green energy. To start with, it has invested a total of Rs 75,00,000 for the installation of solar panels and equipments at Vatika Business Park, its landmark project in Sohna Road with ready to move in office space. Within the next six months the company intends to invest more towards strengthening this project and plans to multiply its capacity 10 times.

Confirming the development, Shri Vineet Taing – President, Vatika Hotels said, At Vatika, we believe in conserving the natural resources bestowed upon us by Mother Nature. To further facilitate the green initiative piloted by Vatika Group, we have decided to opt for solar power at our landmark properties. Installation of solar panels will help us to cut back the dependency on fossil fuels to a great extent. It is a proud moment for Vatika Group, as it is one of the first few real estate developers to opt for solar power.”

Installing solar panels on roof top helps combat green house gas emissions and reduces collective dependence on fossil fuel. This initiative has put Vatika Business Park on the solar map of the country. Vatika is the only real estate developer to embark upon the process to cover all their land mark properties with solar power and thus synergies the green initiative piloted by Vatika Group. The panels installed at Vatika have the capacity to produce 100 KW of electricity. By the end of September it would be increased by 10 times to 1 MW. Every 1000 KW produced through solar energy reduces 34500 MT of CO2. The energy generated through solar power helps save 255000 barrel of crude oil and it also saves 43000 trees annually.

Under the Haryana Solar Power Policy 2016, the government is doling out various incentives and benefits including industrial status, exemption from change of land use approval and cess, banking facility and free-wheeling, exemption of T&D and cross subsidy charges. On the heels of the above notification of the Haryana government, many builders are now initializing the process of installation of solar panels whereas the initiative to install solar panels. Indeed, Vatika Group has set a benchmark for other developers to look at. With such initiatives coming from private parties, the future of Indian energy sector looks brighter, affordable and more perennial.

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