Renewable energy company to lease solar energy panels to Sri Lankan businesses and public - Opportunity Sri Lanka
Renewable energy company to lease solar energy panels to Sri Lankan businesses and public

Renewable energy company to lease solar energy panels to Sri Lankan businesses and public

Daily FT: Orel Corporation, in an innovative move to combat the current power outage, has stepped up to offer businesses and the public the opportunity to lease solar energy solutions, with the aim of setting a new trend in enabling a viable energy solution at a minimal cost.
Through this offer, customers will not have to pay high upfront costs that are generally incurred for solar equipment purchases and installations and still enjoy the same benefits as a solar power user.
This choice affords customers the opportunity to maximise their savings by securing access to and usage of the equipment needed to provide solar energy for their homes or business premises, for a fixed minimum monthly cost that best fits their budgets.
This is also accompanied by the dependable Orel-managed and-maintained system, which includes daily monitoring of assured solar generation.
This valuable benefit has become possible with Orel Corporation’s timely investment in a solar power plant of 1,800kW.
Furthermore, this move will be of benefit to the national grid, contributing 232,960 kilowatt-hours (kWh) and saving up to 1,000 kilowatts (kW) of CO2 carbon emission annually.
Orel Corporation Director Business Excellence Samantha Alwis said: “With this technique, industrial areas, commercial properties, institutions, schools, warehouses, and religious places or office buildings, etc., may entirely meet all of its electricity needs while also contributing towards the national grid. It’s also a property enhancement that includes a green halo effect.”
“Any firm or home can do all of this through their most underutilised asset, which is their rooftops. Once the solar energy system is installed, you get to use all of the solar power the panels generate. “Instead of using electricity from your utility, your home or office will power itself using the energy the solar panels produce. Because you are using solar energy instead of taking electricity from the grid, your electric bill will be much lower,” he added.
Solar Category Manager Rifas Sameer said: “If the solar panels generate enough electricity to cover all of your energy usages through ‘net metering’ you could eliminate almost 70%-80 % of your electricity bill, besides some fixed charges that solar energy can’t offset. “Customers will always know what their monthly cost will be because it is outlined in the lease contract. We will also give customers a free evaluation to determine their solar capabilities and what kind of system they should consider for your commercial or property solar leasing.
“There’s no obligation and no heavy sales pressure, just a clear and honest evaluation of their business or home electricity utilisation and of any solar opportunities that they may have to bring to bear.”
A host of companies had recently signed up with Orel Corporation to enjoy this valuable offer that included Trans Screen Ltd. for 200 kW, Wanasinghe Holding Ltd. for 312 kW, Unilak Fashion Ltd for 414 kW, Mount Packs Ltd. for 500 kW, and Fruits & Nuts Exports Ltd. for 366 kW.

OSL take:

Sri Lanka is facing a power crisis at present and the crisis is expected to continue due to the increasing demand and failure to increase the current power generation capacity. This has resulted in expanding business/investment opportunities in the country’s power industry, especially in the renewable energy generation sectors. The government of Sri Lanka has also adopted a policy of increasing the renewable energy capacity in the country to 70% of the country’s total power mix. Therefore, Sri Lanka’s renewable energy generation sector has become a hotspot for business/investment opportunities in the country. Several leading international companies have already expressed interest in investing in Sri Lanka’s power industry, especially the renewable energy generation sectors.

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Article Code : VBS/AT/25052022/Z_3

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