WHY SHOULD BUSINESSES IN KARNATAKA SWITCH TO RENEWABLE ENERGY VIA OPEN ACCESS?

Karnataka has been a frontrunner in India's renewable energy adoption story – as of March 2021, the state had an installed capacity of over 33 GW of power generation capacity, out of which 39.36% was from renewable sources. Karnataka is also home to India's largest solar park, the Pavagada Solar Park, with a total capacity of 2,050 MW.

According to the Business Today India (BTI), Renewable Energy Survey 2021, Karnataka ranks first among Indian states in renewable energy adoption, with 10.7 GW of installed capacity. This impressive number highlights the state's potential for clean energy generation and consumption.

Karnataka is also home to some of the country’s biggest names in technology, manufacturing and automation: as industry booms, one of the easiest ways for businesses to keep their carbon emissions in check is by switching to renewable energy via the Open Access route. Let us quickly analyse the benefits of the same.

HOW DOES PROCUREMENT OF SOLAR OR WIND POWER VIA OPEN ACCESS WORK?

Many industries today aim to lower their Cabon footprint and make strides towards procuring 100% renewable energy for their operations. Off-site RE solutions?can help them achieve these sustainability goals, while ensuring guaranteed savings for every unit of clean power purchased.

Off-site solar or wind energy via the?Open Access?network uses grid infrastructure to transmit clean power generated at a different location to industries that have bulk energy requirements, but no idle roof or ground space for an RE plant within their premises. This is where 4PEL’s grid-connected Open Access plants offer the ideal solution. Our clients rely on clean energy to not just save on costs but also to help meet their RPOs and long-term energy transition goals.

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BENEFITS OF RENEWABLES TO C&I CONSUMERS IN KARNATAKA

1. 30-50% Cost Savings on Power Tariffs

Renewable energy prices have been decreasing significantly over the last few years, making it a cost-effective option for businesses in Karnataka. According to the International Renewable Energy Agency (IRENA), the cost of solar power has decreased by 89% in the last ten years, while the cost of wind power has decreased by 70%.

2. Reduction in Carbon Footprint

Switching to RE is the most effective way for businesses to reduce their carbon footprint. Interestingly, every MW of solar energy consumed results in -

• ~1,400 tonnes of reduced carbon dioxide (CO2) emissions
• ~700 tonnes of reduction in other greenhouse gases (GHG) emissions
• Offsetting Carbon equivalent to planting 63,000 Trees
• Conserving nearly 32.5 lakh litres of Water

3. Enhanced Corporate Social Responsibility

By switching to Renewable Energy, businesses can demonstrate their commitment to Sustainability and Social Responsibility, which in turn can help enhance their brand reputation and attract environmentally conscious customers and investors.

COMPANIES LEADING THE FRAY ON RENEWABLE ENERGY PROCUREMENT IN KARNATAKA

Several companies have committed to renewable energy procurement in Karnataka. For instance, Infosys, a global leader in IT services, has set a target to become carbon neutral by 2022 and procure 100% of its electricity from renewable sources. Similarly, Walmart, the world's largest retailer, has committed to sourcing 50% of its electricity from renewable sources by 2025, with a focus on wind and solar power.

Other notable companies that have committed to renewable energy procurement in Karnataka include Amazon, IBM, Mahindra & Mahindra, and Tata Motors.

FOURTH PARTNER ENERGY’S OPEN ACCESS SOLAR & WIND ENERGY FOOTPRINT

Fourth Partner Energy is India’s leading Renewable Energy solutions company – with a vast network of Solar, Wind and Hybrid parks across the country. In Karnataka alone, 4PEL has nearly 400 MW of solar and wind capacities that are in various stages of execution.

Some of our marquee clients in the State include Rittal, Ashok Iron, Linde, Solara Active, and A-one steel. From our RE parks in Karnataka, we now offer clean energy to consumers pan-India via ISTS as well. To know how our clean energy solutions can help your business save on costs, while cutting down your Carbon footprint, visit www.fourthpartner.co or write in to [email protected].