Guna Solar Commissions 994.2 kW Rooftop Solar Plant for Modine Thermal in Sriperumbudur
Guna Solar Private Limited, a leading Solar EPC company based in Chennai, has successfully commissioned a 994.2 kW rooftop solar power plant for Modine Thermal Systems Private Limited at their advanced manufacturing facility in SIPCOT, Sriperumbudur. This landmark project, completed under the OPEX model with financing from SIDBI, requires zero upfront investment from Modine Thermal, delivering immediate cost savings and advancing sustainability goals.
Zero-Investment Solar Solution with Long-Term Benefits
Under the OPEX model, Guna Solar retains ownership of the solar plant and has signed a 25-year Power Purchase Agreement (PPA) with Modine Thermal to supply electricity at 50% of the prevailing grid tariff. This innovative approach reduces Modine’s power costs by half from day one, ensuring significant savings while promoting clean energy adoption. Guna Solar also handled the complete Engineering, Procurement, and Construction (EPC) and will provide long-term Operations and Maintenance (O&M) services to ensure uninterrupted clean energy for decades.
Leadership Insights on Sustainability and Innovation
Commenting on the project, Rajesh Rangarajan, MD & CEO of Guna Solar, said, “We believe in creating value for industries by converting unused rooftops into revenue-saving assets. Our financing models—CAPEX, Lease, Deferred CAPEX, and OPEX—make solar accessible to every company, regardless of their upfront budget.”
R Sathish, Managing Director of Modine Thermal Systems Pvt. Ltd., added, “It gives us great pride to share that our Modine India factory has embraced renewable energy by installing this solar power plant. Thanks to Guna Solar’s professionalism and expertise, this project enables us to source power at an affordable, pre-determined cost, supporting our commitment to sustainability, energy independence, and a reduced carbon footprint.”
Technical Excellence and Rapid Execution
Completed in just 100 days, the solar plant showcases Guna Solar’s expertise in delivering high-quality projects with best-in-class equipment, precision engineering, and stringent safety standards. According to Jordi Aragones Juncosa, CTO of Guna Solar, the project features a net metering arrangement for optimal energy utilization and economic viability. The system incorporates advanced DC optimization with module-level electronics, enabling individual panel monitoring, superior energy yield even under shade, and high-resolution analytics for operational efficiency. Additionally, the plant includes module-level rapid shutdown capability, aligning with global safety standards like FM Global for enhanced personnel and asset safety.
About Guna Solar Private Limited
Now in its 11th year, Guna Solar has executed over 180 projects across India, helping clients reduce electricity costs and achieve sustainability goals. Headquartered in Chennai with offices in Bangalore and New Delhi, the company offers end-to-end solar services, including project conceptualization, engineering, construction, financing, and long-term asset management. Guna Solar’s flexible engagement models—CAPEX, Deferred CAPEX, Lease, and OPEX/PPA—cater to diverse financial and operational needs. Known for its creative problem-solving and rigorous engineering, Guna Solar is driving India’s clean energy future with a focus on safety, quality, and performance. For more details, visit www.gunasolar.com.