Pune, June 29: Aerem, a climate-focused solar financing and solutions company, has financed a 240 kilowatt rooftop solar power plant for a large eight-wing residential housing society in Pune, helping the community significantly reduce common area electricity bills and move toward a low-carbon, EV-ready future. The project was executed by Minus CO2, which played a key role in implementing the plant and ensuring its smooth delivery.
The system is designed to generate around 1,000 units of clean electricity per day, or nearly 30,000 units per month, and is currently producing in the range of 35,000 to 40,000 units during the summer months, creating a buffer for the monsoon season. Before adopting solar, the society consumed approximately 27,000 units per month for common facilities such as water pumping, lifts, common lighting and clubhouse operations.
With Aerem’s support and Minus CO2’s execution capabilities, the society was able to implement the project despite limited upfront resources. The total project cost is approximately Rs. 1,046 lakhs, of which the society contributed about 10 percent, while Aerem financed the remaining 90 percent. The project has also qualified for a government subsidy of around Rs. 43 lakhs, which is sanctioned and due for disbursement. Over a five-year period, the financing is expected to be largely offset by monthly electricity bill savings, helping the project pay for itself over the loan tenure.
“As a company, our mission is to make rooftop solar viable for communities that otherwise struggle with upfront capital,” said Vikesh Agrawal, Co-Founder, Aerem. “In this Pune housing society, a modest upfront contribution, combined with our financing, has unlocked a 240 kW plant, government subsidy benefits of approximately Rs. 43 lakhs, and long-term energy savings that will accrue to residents over time. This is a strong example of how the right financing structure can turn intent into implementation for large residential communities.”
Executing a project of this scale for a large residential society requires careful planning, coordination and consistent performance,” said Sidharth Deshmukh, Managing Partner & CEO, Minus CO2. “We are proud to have partnered with Aerem to deliver this rooftop solar plant and help the society move closer to lower electricity costs and an EV-ready future.”
The rooftop solar plant now powers the society’s entire common load, covering water pumping systems, elevators, common area lighting and clubhouses, while also helping export surplus power to the grid. Building on the strong generation data and savings, the society is now rolling out electric vehicle charging points within the premises, which will be powered by the rooftop solar plant to serve existing EV owners and encourage wider EV adoption among residents.
“Clean energy and climate finance have to go hand in hand if India is to decarbonize at scale,” said Anand Jain, Founder, Aerem. “This project shows that when you remove the barrier of upfront cost and offer flexible financing, even large housing societies can move quickly to adopt rooftop solar and prepare for EV-ready infrastructure. We see strong residential and commercial demand in Pune and other cities, and we are actively financing similar projects in partnership with implementation companies like Minus CO2.”
Aerem already has multiple projects in Pune that are installed or in the pipeline, spanning individual rooftop systems and common-facility plants tailored to customer needs. Through such projects, the company aims to help societies and businesses become more resilient to rising power costs while contributing to India’s renewable energy and net-zero goals.