Integrum Energy Signs an MOU at the Vibrant Gujarat 2024 for Developing Wind Solar Projects
Jan 31, 2024
BusinessWire India
Bangalore (Karnataka) [India], January 31: Integrum Energy signed a Memorandum of Understanding (MOU) with the Gujarat Government at the Vibrant Gujarat Summit 2024. Over a period of 5 years, Integrum Energy plans to enable development of more than 700 - 800 MWs of wind and solar Hybrid projects in the state of Gujarat at total investment of Rs 5000 Crs.
Integrum Energy's innovative end to end solutions, enables industrial and commercial consumers to own and consume power from these green energy hybrid projects. It effectively ensures maximum green energy at the lowest cost for such consumers. In addition, our projects will significantly contribute to Gujarat's economy, fostering economic growth, job creation, and ancillary business opportunities in the renewable energy sector. This will also act as a multiplier for downstream investments by the user industries as their relative profitability and efficiency improve by sourcing cost-effective wind and solar power.
Integrum Energy's investment proposal at the Vibrant Gujarat Summit 2024 not only marks a significant commitment to driving positive change in the energy sector but also brings substantial benefits to the state of Gujarat. The MOU signing is a testament to the mutual commitment to fostering innovation, economic growth, and environmental responsibility.
Integrum Energy is the earliest developers of hybrid wind and solar projects, both co-located as well as connected to the same pooling substation. In a short span of 2 years, we have implemented and commissioned nearly 150 MWs of wind and solar projects mostly in Hybrid mode. We are further in the process of implementing more than 200 MWs of projects in the states of Gujarat, Maharashtra and Karnataka.
IE has been at the forefront of developing a power portfolio optimization model, which enables clients to maximise their green energy sourcing at the lowest possible cost. This enables the clients to best meet their sustainability objectives together with minimization of their power cost. The company's capex-based transaction structure covers all aspects from project conceptualisation, development and commissioning to power portfolio management and life-time asset management.
Integrum Energy has already in a short time, achieved many industry-defining firsts:
* First platform to setup Solar - Wind Hybrid plants at scale
* Only platform to hybridise and integrate Solar Wind at Low Voltage
* Net zero - Enabled large enterprises to source 100 per cent RE
* The solutions have reduced average energy cost by more than 50 per cent for clients
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