KLK Ventures Private Limited has signed its first Power Purchase Agreement (PPA) under the Uttar Pradesh Renewable Energy Service Company (RESCO) project. The agreement, for a 600 kW solar power plant at Deoria Medical College, marks a significant step forward in the state’s renewable energy initiative, which is being spearheaded by the Uttar Pradesh New & Renewable Energy Development Agency (UPNEDA).
KLK Ventures, a leader in energy solutions, has been awarded a total of 5 MW of solar power capacity to be installed across government and semi-government buildings throughout Uttar Pradesh. The move is part of a broader state effort to promote sustainable energy solutions, with the PPA being the company’s first under the UPNEDA’s renewable energy plan.
UPNEDA had issued a Request for Selection (RfS) on December 15, 2023, for the development of 500 MW of Grid Connected Rooftop Solar PV Systems under the RESCO model. KLK Ventures, which specialises in energy storage and solar solutions, secured 5 MW of this capacity. The company, which has over three decades of experience in the energy sector, operates manufacturing units in Noida and Bihar, and is committed to advancing renewable energy technologies.
Commenting on the agreement, KLK Ventures CEO Akshat Jain said, “Signing our first Power Purchase Agreement under the UP RESCO project is a milestone for us. We are committed to supporting the state of Uttar Pradesh in its renewable energy goals by providing efficient and sustainable energy solutions.”
Under the RESCO model, KLK Ventures will finance, design, install, operate, and maintain the solar PV systems, ensuring long-term cost savings for the state by offering lower electricity rates than traditional grid electricity. This model aims to boost solar energy adoption by eliminating upfront costs for the government and providing scalable energy solutions for various public buildings.
The 5 MW rooftop solar system project will contribute to decentralised energy generation, reduce transmission losses, and improve energy security in Uttar Pradesh. It is part of a larger effort to align with India’s national renewable energy goals and increase solar power capacity across the state.
KLK Ventures’ involvement in the project underscores its commitment to promoting sustainable energy practices and fostering a greener future.
