Pune: Aerem, a climate-focused solar financing and solutions company, has financed a 240 kilowatt (kW) rooftop solar power plant for a large eight-wing residential housing society in Pune, helping the community significantly reduce common area electricity expenses while advancing toward a low-carbon and EV-ready future.
The project, executed by Minus CO2, is designed to generate approximately 1,000 units of clean electricity per day, translating into nearly 30,000 units per month.
During the summer season, the plant is currently producing between 35,000 and 40,000 units, creating an energy buffer for the monsoon months.
Prior to adopting solar energy, the housing society consumed nearly 27,000 units of electricity every month to power common facilities, including water pumping systems, elevators, common lighting, and clubhouse operations.
With financial support from Aerem and implementation expertise from Minus CO2, the society successfully executed the project despite limited upfront resources.
The total project cost stands at approximately ₹1.046 crore, of which the housing society contributed nearly 10%, while Aerem financed the remaining 90%.
Additionally, the project has qualified for a government subsidy of approximately ₹43 lakh, which has already been sanctioned and is awaiting disbursement. Over a five-year period, the financing is expected to be substantially offset through monthly electricity bill savings, enabling the project to effectively pay for itself during 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 ₹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.”
Highlighting the execution process, Sidharth Deshmukh, Managing Partner & CEO, Minus CO2, said: “Executing a project of this scale for a large residential society requires careful planning, coordination and consistent performance.
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, including water pumping systems, elevators, common area lighting, and clubhouses. The project also enables the export of surplus electricity to the grid.
Building on the positive generation performance and cost savings, the housing society has initiated the rollout of electric vehicle charging infrastructure within its premises.
The EV charging points will be powered by the rooftop solar plant, serving existing EV owners while encouraging broader electric vehicle adoption among residents.
Anand Jain, Founder, Aerem, said: “Clean energy and climate finance have to go hand in hand if India is to decarbonize at scale. 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 installed or under development in Pune, spanning individual rooftop solar systems and common-facility plants tailored to customer requirements.
Through such initiatives, the company aims to help residential societies and businesses become more resilient to rising energy costs while contributing to India’s renewable energy and net-zero ambitions.
Founded in 2021 and headquartered in Mumbai, Aerem Solutions Pvt. Ltd. operates an integrated renewable energy platform encompassing Aerem Solutions, NetZero Finance, and SunStore.
The company has enabled more than 1.5 GW of solar capacity across 150-plus cities through a network of over 5,000 EPC partners and has financed more than 2,000 distributed energy projects nationwide.
