Chennai, Tamil Nadu, India – Guna Solar Private Limited, one of India’s fastest-growing Solar EPC companies based in Chennai, has successfully commissioned a 994.2kW rooftop solar power plant for Modine Thermal Systems Private Limited at their state-of-the-art manufacturing unit in SIPCOT, Sriperumbudur.
The project has been financed by SIDBI under OPEX model, ensuring zero upfront investment for Modine Thermal. Under the OPEX model, Guna Solar not only conceived the project but also executed complete EPC and will provide long-term O&M services, ensuring uninterrupted clean energy for decades to come.
Under the OPEX model, Guna Solar retains ownership of the rooftop solar plant and has entered into a Power Purchase Agreement (PPA) with Modine Thermal to supply electricity at 50% of the prevailing grid tariff. This results in immediate and significant savings — effectively reducing Modine’s power costs by 50% from Day One.
Commenting on the project, Rajesh Rangarajan, MD & CEO, 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.”
According to R Sathish, Managing Director, Modine Thermal Systems Pvt. Ltd., “It gives us great pride to share that our Modine India factory has embraced renewable energy by installing a solar power plant at our facility in Sriperumbudur. Thanks to Guna Solar and its Leadership team’s professionalism and expertise, which enabled seamless collaboration & execution, allowing us to move closer to our green energy goals. This project, through the OPEX Model & PPA, besides ZERO upfront investment, will enable us to source power at an affordable, pre-determined cost for a long time.” Additionally, he noted that this not only reflects our commitment to sustainability but also supports energy independence, reliable & efficient power, thereby reducing our carbon footprint & making our journey towards a greener future.
For Guna Solar, this installation is yet another accomplishment as the plant was completed in 100 days, with best-in-class equipment, precision engineering, and stringent safety standards. According to Rajesh, this gives us confidence that Guna Solar has come of age in delivering customized, flexible solar solutions across India – helping clients achieve both economic and environmental goals.
Dwelling on the salient features of the project, Jordi Aragones Juncosa, CTO, Guna Solar, said, the project has been developed under a net metering arrangement. This ensures full energy utilization and enhances the economic viability of the plant for Modine Thermal. The plant employs advanced DC optimization with module-level electronics, enabling individual panel monitoring for enhanced diagnostics, Superior energy yield, even under shade or roof obstructions, and High-resolution analytics to drive operational efficiency.
Importantly, to ensure personnel and asset safety, the system includes module-level rapid shutdown capability, aligned with evolving global safety standards such as FM Global. This allows quick system deactivation during emergencies or maintenance.
