Solar panels installed on the roof of a hotel

The West Bengal Green Energy Development Corporation is dangling an extra-income option and tax sops before companies to make them generate solar power.

For a month from November 15, business establishments with roofs larger than 50,000 sq ft can seek permission from the corporation to produce solar power there.

The corporation will provide technical support for the projects. It will also obtain the necessary permissions from the power utilities.

On an average, about 250KW of solar power can be produced per hour on a 50,000 sq ft roof. Companies can sell the power to the grid for Rs 11 per unit (250KW is equivalent to about 1,500 units).

At the current rate, a company producing 250KW can earn Rs 17,000 per day. S.P. Gonchowdhury, the managing director of the corporation, said it would take a company six to seven years to recover the initial investment of Rs 4 crore.

In addition to earning money, companies producing green power stand to get tax benefits and a green certificate.

According to Gonchowdhury, some large companies here, including a resort with a roof over 1.5 lakh sq ft, have shown interest in the scheme. “The companies are interested because they stand to earn utilising their roofs, which normally lie abandoned. We have approached the central government for more incentives.”