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Muthoot Fincorp Ltd

Muthoot Fincorp Ltd, Cochin

Muthoot Pappachan Group (MPG) engaged in the Financial services, Automotive dealerships, Hospitality, Real estate, Entertainment, Health services and Alternate Energy is a large business house in India.

Their Corporate Office headquartered at Cochin was suffering from power shortage due to poor quality and inadequate grid supply.

As their power consumption kept increased on account of increased business activities, reliability on grid supply was no longer desirable. Furthermore, the higher tariff and DG operation added to the cost.

Under the circumstances, the Management entrusted TS with the task of implementing a suitable Renewable Energy option so as to ensure uninterrupted power supply, reduce cost, DG operations and mitigate the carbon emissions.

TS undertook an energy auditing study and found that they solely depended on the KSEB / DG for their entire power requirements which were largely during daytime.

Considering the daytime consumption pattern along with other recommendations, TS engineered a 24.5 kW Grid-Tie solar PV system capable of providing a part of the load in their HQ as desired by them.

System Components

  • Bosch C – SI M 245Wp Solar panels to produce an average 110 units of energy per day.
  • Grid-Tie STP 20000TL EE SMA Sunny Tripower Inverter. It is a transformer-less PV inverter with 2 MPP trackers which extract maximum power from the modules. It converts the DC into grid-compliant three-phase current and feeds it into the electricity grid.
  • A Sunny Webox which is a powerful communication tool for monitoring of the PV energy contribution.

Project Yield

  • The system produces around 110 units of energy per day (3300 units of energy/month).
  • During the life time, it will produce around 990000 kWhr of energy.
  • save 30 tons of CO2 being emitted into the atmosphere
  • The project plan ensured payback period 5 years for the project cost.
  • A role model for other corporates to follow.
  • Confidence of such Corporates in the capability of TS