The University of Lucknow has planned to go for complete solar power. University will implement solar plants on both campuses. HFM Solar Power Pvt Ltd and Lucknow University signed a memorandum of understanding (MoU) for installation, engineering, production and maintenance of solar power generation.
Finance officer SD Maurya on behalf of LU and OP Jaipuria, director, hfm signed the MoU. Lucknow University is the first state university to have such an agreement for generation of solar power, claimed LU spokesperson NK Pandey. He further added,
“The agreement is for a period of 25 years. The university doesn’t have to pay for installation, generation of solar power and the company will bear all the costs. The work is proposed to be completed in the next three to four months,”
Solar Energy Corporation of India has subsidized the solar power.
The rates have been heavily reduced for the university. Rs 3.91 per unit will be paid by the university to the company where UPPCL (Uttar Pradesh Power Corporation Ltd.) had much higher price rates.
NK Pandey further said,
“Notably, the rates of UPPCL may increase year on year but the solar power rate per unit will remain fixed over the entire period of 25 years. Generating this much electricity is equivalent to planting 25,000 plants. Moreso, this energy generation is pollution free and environment friendly. No carbon emission will be there. CO2 emissions are expected to be reduced by 1,460 tonnes each year.”
There has been an approximation done for the plant on the savings that can be achieved. Upto Rs. 66 lakhs per annum and more than Rs 16 crore over the period of 25 years can be saved. The plant capacity will be such that 120,000 units per month will be generated.
Source: Hindustan Times
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