The Madhya Pradesh Urja Vikas Nigam Limited (MPUVNL) has issued an expression of interest (EoI) to purchase power from solar rooftop projects installed with ‘zero upfront investment’ through the RESCO model.
Government, semi-government, social institutions, autonomous bodies, commercial and industrial consumers are invited to express their interest to procure solar power from the rooftop solar systems installed under the RESCO model.
The Renewable Energy Service Company (RESCO) model is a system where the developer owns the solar project, and the consumer just pays for the energy generated. So, the consumer of power does not have to incur any upfront costs.
Under this model, the RESCO developer would install, operate, and maintain the rooftop solar project for 25 years. They would then sell the power produced from the rooftop system at a tariff discovered through a competitive bidding process.