Noida-headquartered SunSource Energy has bagged yet another solar power project for Indian Oil Corporation Limited (IndianOil), a state-owned fossil fuel giant. The commercial and industrial solar energy and storage solutions provider’s scope of work will include the complete engineering, procurement and construction (EPC) of the rooftop solar plant and asset management for five years.
The project is expected to generate over 22 million kWh of electricity over a 25-year lifetime. It will be developed across ten buildings in Vadodara at IndianOil’s flagship Gujarat Refinery and its township. The Gujarat refinery is one of the most complex refineries in India with about 40 operating units and has a capacity of 13.7 MMT per year.
This project will be SunSource Energy’s third project for IndianOil, which will help the corporation in its sustainability goals and support India’s aspiration to transit to clean energy. Once developed, the project will offset over 900 tonnes of CO2 emission every year.
SunSource had earlier developed a 100 kW floating solar project at IndianOil’s Panipat Refinery and a 1 MW rooftop solar project at the Assam Refinery.
SunSource, an investee of the Neev Fund (a private equity firm backed by State Bank of India and UK’s Department for International Development), recently won a solar with storage project in the Lakshadweep that will supply clean and stable solar power to four islands in the region.