Ecocity Captive Power

completed

Mahindra World City Developers Ltd desires to introduce private sector participation to promote a Group Captive Power solution wherein participating tenants (Tenant Companies) of the Mahindra World City (MWC) in Chennai will benefit from the advantages of collaborative procurement of sustainable power and other facilities/solutions due to aggregation of demand. Tenants co-located within the industrial zone have advantages of collaborative procurement since they share a common landlord and can support aggregation of demand. In addition to group captive from wind/solar, aggregation of roof-space may also result in competitive rates for rooftop PV installation, because of economies of scale, buyers may also realize a decrease in installation and transaction costs. The Project will involve establishing a Group Captive Power Solution between participating tenants (Tenant Companies) of the Mahindra World City (MWC) in Chennai and a power supplier using renewable energy. It entails establishing consensus among willing tenant companies to enter into a Power Purchase Agreement (PPA) with a power supplier that would be selected through a competitive bidding process. Upon selection of the power supplier (Winning Bidder), a Special Purpose Vehicle (SPV), with participation of the Tenant Companies, will be formed that will enter into a PPA with the Winning Bidder.