Case studies

Two plants, and why each one was structured the way it was.

One client bought the plant. The other bought only the electricity. Both cut the bill — the difference is whose balance sheet carries the asset.

Case one · CAPEX, client-owned

Moon Beverages, Dasna.

A Coca-Cola bottler in Uttar Pradesh with two large production roofs, a load that runs hardest through the hottest hours, and capital available for an asset it intended to keep.

Top-down aerial view of the Dasna plant, two adjacent production hall roofs almost
                entirely covered with solar modules, with loading bays and delivery trailers below
Two adjacent production halls, worked end to end. Skylights, extract fans and walkways are designed around rather than built over.
4.0 MWpInstalled capacity
6,480 MWhGenerated per year
Rs 4.54 CrSaved per year
3.3 yearsPayback on plant cost
~4,600 tCO₂ avoided a year

The first order matters less than the four that followed it.

Why CAPEX was right here

The group had the capital, a long horizon on the site, and the appetite to own. At a 3.3-year payback on a plant with a twenty-five year life, ownership is simply the cheapest electricity available — roughly twenty-one further years of near-free generation once the asset has paid for itself.

The engineering constraint

A bottling roof is not an empty plane. Skylights, extract fans, service walkways and existing penetrations all have to be designed around, and the sheeting has to survive twenty-five years of maintenance traffic without a single new leak.

Why it became a template

Dasna is the flagship roof in a portfolio the group went on to build with us across five sites. That is the outcome worth reporting — not the first order, but the four that followed it.

Case two · OPEX, we own it

Fortis Healthcare, Ludhiana.

A hospital with a 24/7 load, limited usable roof, a large car park, and a finance committee that would rather put capital into clinical equipment than into a power plant.

317 kWpCarport installation
ZeroCapital from the hospital
513 MWhGenerated per year
Rs 31.9 LPower supplied per year, billed below grid
Rs 6.22Opening tariff per unit
Why the car park, not the roof

Hospital roofs are congested — plant rooms, chillers, helipads, expansion allowance. The car park was the largest uninterrupted area on the site, and a carport returns shaded parking for patients and visitors as well as generation.

Why OPEX cleared internally

On this structure the hospital committed no capital and took on no residual-value risk. We fund, build, own, insure and maintain the plant, and the hospital buys the units it consumes below its grid rate — which makes it an operating cost decision rather than a capital approval.

What we carry

Because we own it for the term, every unit the plant fails to generate is a unit we do not get paid for. That is the alignment the model creates, and it is the reason the performance commitments are contractual rather than aspirational.

Every unit the plant fails to generate is a unit we are not paid for.

Fortis has re-ordered across multiple campuses since 2016, every one on the same zero-capital structure.

Which one is yours

The structure follows the balance sheet, not the roof.

Own it if

You have the capital, a long horizon on the site, and you want the cheapest electricity available over twenty-five years. The payback is the whole argument.

Buy the power if

Capital is better deployed elsewhere, or a capital approval would take longer than the saving is worth waiting for. You pay per unit, below grid, from month one.

Go off site if

Your roof cannot carry enough of your load to matter. Open access or group captive supplies multi-megawatt volumes with no on-site footprint at all.

Savings figures are per project records at prevailing tariffs; payback is stated for client-owned projects only. CO₂ at the CEA grid emission factor of 0.71 t/MWh. Detailed techno-commercial data is available under NDA. Compare the three structures in full

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