Adani group to set up Rs 4,536 crore solar power park in TN
Gujarat-based Adani group signed an MoU with the Tamil Nadu government to set up one of the world’s largest solar parks at a cost of Rs 4,536 crore in the southern district of Ramanathapuram.business Updated: Jul 05, 2015 00:37 IST
Gujarat-based Adani group signed an MoU with the Tamil Nadu government to set up one of the world’s largest solar parks at a cost of Rs 4,536 crore in the southern district of Ramanathapuram.
The state government had decided to purchase 2,000 MW of solar power from producers by the end of the current year.
Adanis will set up a 648 MW solar power generation plant, construction of which is set to begin next month. As per company plans, the plant is scheduled to commence operations before February or March next year.
Adani has approached the department of industrial policy and promotion for clearance through three different companies, including Ramnad Renewable Energy, Kamuthi Solar Power Ltd and Ramnad Solar Power Ltd.
Chief minister J Jayalalithaa was present during the signing of the MoU by the two sides here on Saturday. “I am very happy to be here. I hope the project is successful and I hope your partnership with Tamil Nadu will continue,” she told Adani group managing director Rajesh Adani.
A government press statement said Tamil Nadu Generation and Distribution Corporation Ltd (Tangedco) would purchase the entire power from the project at Rs 7.01 a unit.
In 2012, the Tamil Nadu government had launched the solar energy policy, which called for the development of 1,000 MW of utility-scale, rooftop and renewable energy certificate (REC) projects annually through 2015. Taking into account the agreement with the Adani group, Tamil Nadu has signed deals to procure 1,084 MW of solar power.