According to reports, the Indian Institute of Management, Ahmedabad (IIM-A) is practising what it teaches-making the most of available resources. The premier institute may soon become an energy independent business school by using solar energy and other energy-efficient products.
IIM-A alumnus Akshat Khare and his partner Dhaval Shah, a Nirma University graduate, are helping the institute go the solar way by installing solar streetlights on the campus. The duo, through their start-up Nessa Illumination Technologies have also replaced IIM-A’s 150-watt sodium streetlights with 60-watt LED streetlights.
The initiative has helped the B-school cut 66% on electricity bill in a year. As LED is three times more expensive than a normal bulb, the firm has changed its business model for IIM-A to pay from the savings on electricity bill instead of paying upfront for the lights.
Khare said, “In order to convince the authorities at IIM-A, we offered them an innovative business model -do not pay the cost upfront, divide it over a period of 12 months – so that they can pay from their electricity bill savings. In addition, we have also offered them to take back their sodium streetlights and recycle them at our cost.”
The project at IIM-A has completed the second phase and is entering the third, where more lights will be replaced with energy-efficient lights. The new construction coming up on the campus is likely to use solar energy for its daily operations.
In July, IIM-Shillong set up a 50kw solar plant on its campus to cater to its energy requirements.