By entering into a 20 year Power Purchase Agreement (PPA), the company is able to secure their price on electricity for the term of the agreement; helping them save around 25% on electricity in their first year. The organization chose to use Sonali Solar modules because of their excellent reputation in the industry, due to their high efficiency module they offer at a great price. Since the company did not need to put any money down, it was important that they use equipment that will produce as much electricity as possible, while ensuring that the materials will last the length of the agreement.
Pankaj Desai, president and CEO of Sonali Solar, said, “We are excited to add another large installation into our pipeline. This contract will help expand our growing presence in the PV market in the US.” He said that Sonali is planning more high capacity installations that are currently being negotiated. With many installations already completed, Sonali is excited to have one more notch on their belt.
The 1,267 panels installed will generate over 90 percent of the electrical use for that building as soon as the project goes online. Sonali has estimated that using the solar panels for electricity is equal to planting over 311 thousand trees.