Panchshil Realty has signed an agreement with ERO Power by which the latter will manage power distribution for Panchshil’s SEZ project in Pune.
By virtue of this 20-year agreement, Mumbai-based ERO Power shall run power distribution for the IT/ITES special economic zone owned by Panchshil Realty at Kharadi in Pune, Maharashtra.
Being the developer of the SEZ, Panchshil is a deemed power distributor. Panchshil shall now be supplying power to clients inside the SEZs at a more competitive rate than state power utility Maharashtra State Electricity Distribution Company (MSEDCL, also known as MahaVitaran) in a move that will directly benefit clients.
A statement by Panchshil observed that the agreement with ERO Power has has come as a boon during these COVID-19 times where all IT companies wish to reduce their operational costs. This is a win-win situation for all stakeholders, the statement said, adding that one of Panchshil’s objectives has always been to help its SEZ clients reduce their running costs.
Both EON Phase-1 and Phase-2 located in the Kharadi SEZ shall now have an added advantage as compared to others regarding their electricity expenses. This could attract more industries and IT units in the SEZ, the statement said. Panchshil Realty shall cater a load of around 26 mw now and shall supply power at competitive tariffs.
“We are incredibly happy about the services and power domain knowledge of ERO Power. I am sure they will run the business in very efficient way, “said Atul Chordia, Chairman & Managing Director, Panchshil Realty.
According to Vandana Bangar Yermalkar, CEO, ERO Power, ““We are a young startup and wish to transform the power distribution and transmission market. We are very keen on delivering end-to-end solutions to optimize the energy cost, smart metering infrastructure, SCADA based monitoring, the use of IoT based devices to maximise the efficiency and reduce power T&D losses. We are actively looking to capture the power distribution market pan-India as well as for optimisation of costs for upcoming data centers, IT Parks & commercial business hubs.”
Formed and headed by highly skilled professionals from the power sector, Mumbai-based ERO Power was established with the objective of optimizing power costs through innovative end-to-end solutions.
Featured photograph shows the ERO Power team at the “going live” occasion of EON Phase-1.
