Bankable Detailed Project Report (DPR) for 5 MW AC / 7 MWp DC Solar PV Power Plant
Prepared for: State Bank of India (SBI)
1. Executive Summary
This Detailed Project Report outlines the development of a 5 MW AC / 7 MWp DC grid-connected solar
PV power plant at Village Gudha, Tehsil Kanina, District Mahendragarh, Haryana. The plant will be
developed by Voltex India Private Limited, operating under the RESCO model with a fixed injective
power sale at ₹4.00/unit to an industrial consumer under a group captive structure. The project is
optimized for performance with bifacial modules and a DC/AC ratio of 1.4.
Voltex India's RESCO model is structured to offer clean energy as a service without requiring upfront
capital investment from the consumer. Under this arrangement, Voltex India will invest, own, operate,
and maintain the solar plant while selling power at a predetermined tariff under a long-term Power
Purchase Agreement (PPA). The consumer benefits from lower tariffs compared to grid electricity, along
with compliance benefits under sustainability and ESG mandates.
To facilitate project execution and regulatory compliance, a private company will lease the required land
from the owners and hold the lease in its name. This landholding company will enter into a PPA with
Voltex India Private Limited, under the RESCO model. Voltex India will develop and operate the project,
supplying power to the group captive consumers through this arrangement.
2. Project Overview
• Project Capacity: 5 MW (AC) / 7 MWp (DC)
• CUF (AC): 27.4%
• CUF (DC): 19.57%
• Annual Generation: 1.20 Cr units (12 million kWh)
• Location: Village Gudha, Tehsil Kanina, District Mahendragarh, Haryana
• Implementation Model: RESCO under Group Captive Model
• Developer: Voltex India Private Limited
• PPA Tariff: ₹4.00/unit (injective)
• Project Life: 25 years
3. Technical Specifications
• Modules: 540–580 Wp Bifacial Mono PERC (LONGi/Jinko/JA Solar/Trina)
• DC Capacity: 7 MWp
• AC Capacity: 5 MW
• Inverters: 20 × Sungrow SG250HX (250 kW, 1500V string inverters)
• Mounting Structures: Strolar/Jurchen HDG Fixed Tilt
• Cabling:
• DC: 25 sqmm, 4C Aluminium (KEI/Polycab)
• AC: 150 sqmm, 3.5C Aluminium (Havells/Finolex)
• SCADA: ABB/Siemens with RTU, sensors, and remote monitoring
• Transformers: 2 × 2.5 MVA (CGL/Schneider)
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• Evacuation: 33 kV to nearby DHBVN substation
4. Land & Infrastructure
• Land Area: 25 acres
• Land Type: Private Land
• Ownership Arrangement: The land is leased by a private landholding company which in turn
signs a PPA with Voltex India Private Limited under the RESCO model.
• Access Road, Drainage, Boundary: RCC road, barbed fencing, ramming foundations
5. Financial Estimations (Component-wise)
Component Cost (₹ Cr)
Solar Modules (7 MWp) ₹9.10
Inverters & Switchgear ₹1.10
Mounting Structures (HDG) ₹3.00
Cables & Accessories ₹0.70
SCADA + Transformers ₹0.60
Transmission (33kV, 1 km) ₹0.40
Civil Work & Installation ₹1.00
Land Development & Boundary ₹0.45
Design & Engineering ₹0.30
Miscellaneous & Contingencies ₹0.65
Total EPC Cost (Ex-GST) ₹17.30 Cr
GST @ 13.8% Composite ₹2.39 Cr
Total Project Cost (Gross) ₹19.69 Cr
6. Funding Structure
• Total Project Cost: ₹19.69 Cr
• Debt (80%): ₹15.75 Cr @ 10% per annum, 10-year tenure
• Equity (20%): ₹3.94 Cr
• Annual EMI: ₹2.42 Cr (₹20.15 lakh/month)
Mechanism of Funding (As per SBI norms and central schemes):
To fund the total debt requirement of ₹15.75 Cr, a blended financing structure is proposed as follows: -
₹10.00 Cr: Under CGTMSE scheme (Credit Guarantee Fund Trust for Micro and Small Enterprises) – fully
collateral-free, backed by credit guarantee. - ₹2.00 Cr: Via Agriculture Infrastructure Fund (AIF) –
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long-term, interest-subsidized loan for agri-linked solar infrastructure. - ₹3.75 Cr: Through SBI’s Project
Finance/SME Term Loan scheme – secured with partial collateral and linked to project cash flows.
This mechanism aligns with the bank’s financing mandates, while leveraging central government
subsidy and support schemes to reduce financing risk and improve credit viability.
7. Revenue Model
• Injective Units Sold: 1.20 Cr units/year
• Tariff: ₹4.00/unit
• Gross Revenue: ₹4.80 Cr/year
• O&M + Admin: ₹0.30 Cr/year (with 3% escalation)
• Net Revenue Before Debt: ₹4.50 Cr/year
• Net Surplus (Post-EMI): ₹2.01 Cr/year
• 25-Year Revenue Potential: ₹100–105 Cr (considering degradation)
• DSCR (Year 1): 1.81 (Meets standard banking threshold of 1.50+)
8. Regulatory & Policy Compliance
• Group Captive Compliance: 26% equity by power consumer
• ALMM Exemption: Applicable (Captive Model)
• Approvals: CEIG, SLDC registration, LTOA via HERC
• Open Access Charges: Paid by SPV
• HAREDA Support: Recommendation available (optional)
9. Execution Timeline
Milestone Target Date
Land Acquisition & Approvals July 2025
Financial Closure August 2025
Procurement & Construction Aug–Sep 2025
Commissioning & COD October 2025
10. Conclusion
The proposed 5 MW AC / 7 MWp DC solar PV plant by Voltex India Pvt. Ltd. is technically optimized and
financially viable under the RESCO captive model. The project ensures stable returns, reduced consumer
electricity cost, and meets all regulatory norms for open access power delivery. The DSCR, blended
finance strategy, and eligibility under flagship banking and government schemes position the project as
highly bankable for lending institutions like SBI.
Prepared by: Voltex India Private Limited
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Prepared for: State Bank of India (SBI)
Date: 24 June 2025
