ERO Power's Strategic Partnership with Panchshil Realty
In November 2020, ERO Power, a Mumbai-based energy solutions provider, entered into a 20-year agreement with Panchshil Realty to manage power distribution for Panchshil’s IT/ITES Special Economic Zone (SEZ) in Kharadi, Pune, Maharashtra.
Objective
The primary goal of this partnership was to supply uninterrupted power to SEZ clients at rates more competitive than those offered by the state utility, Maharashtra State Electricity Distribution Company (MSEDCL). This initiative aimed to reduce operational costs for IT companies, especially during the challenging times of the COVID-19 pandemic.
Implementation
ERO Power assumed comprehensive responsibilities akin to a distribution licensee, encompassing:
- Power Procurement: Sourcing electricity at competitive rates to ensure cost efficiency.
- Network Management: Overseeing the entire power distribution network within the SEZ.
- Advanced Monitoring: Implementing SCADA-based systems for real-time network monitoring.
- Automated Metering: Deploying automated meter reading systems to facilitate accurate and hassle-free billing.
Outcomes
The collaboration yielded significant benefits:
- Cost Reduction: SEZ clients experienced a decrease in electricity expenses due to the competitive tariffs negotiated by ERO Power.
- Enhanced Reliability: The implementation of advanced monitoring and metering systems ensured a consistent and reliable power supply.
- Increased Attractiveness: The cost-effective and reliable power supply enhanced the SEZ’s appeal to potential IT and industrial units.
Leadership
Atul Chordia, Chairman & Managing Director of Panchshil Realty, expressed confidence in ERO Power’s capabilities, stating, “We are incredibly happy about the services and power domain knowledge of ERO Power. I am sure they will run the business in a very efficient way.”
Vandana Bangar Yermalkar, CEO of ERO Power, highlighted the company’s vision: “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 energy costs, smart metering infrastructure, SCADA-based monitoring, and the use of IoT-based devices to maximize efficiency and reduce power T&D losses.”
Conclusion
The partnership between ERO Power and Panchshil Realty exemplifies a successful collaboration aimed at optimizing energy distribution within a specialized economic zone. By leveraging advanced technologies and strategic management, the initiative not only reduced operational costs for existing clients but also enhanced the SEZ’s attractiveness to prospective businesses.
