Business

Adani Group to set up solar park in TN for Rs 4,536-cr

Chennai, Jul 4 : Business conglomerate Adani Group has proposed to set up a solar park in Tamil Nadu tipped to be among the world's largest at an outlay of Rs 4,536 crore.

State-run TANGEDCO (Tamil Nadu Generation and Distribution Corporation) and Adani Group signed an agreement today in the presence of Chief Minster J Jayalalithaa.

"Adani Group has proposed to set up five solar power generation centres with a total capacity of 648 MW in Ramanathapuram district of Tamil Nadu at an investment of Rs 4,536 crore", an official statement said.

The power generated from the plant would be purchased at a price of Rs 7.01 per unit by the government.

Adani Group MD Rajesh Adani while explaining about the project said it will be one of the world's largest solar park and will be set up in Kamudhi, Ramanathapuram district.

Chief Minister J Jayalalithaa said, "I am very happy to be here. I hope the project is successful and I hope your partnership with Tamil Nadu will continue".

TANGEDCO has already inked power purchase agreements with 31 private players to generate 436 MW of solar power.

"The signing of MoU between Adani Group and with the other private players will attract investments of Rs 7,588 crore towards generation of 1,084 MW of solar energy in the state", the statement further said.

The Tamil Nadu Transmission Corporation Limited (TANTRANSCO) engaged in developing electricity infrastructure, has undertaken a slew of projects including setting up of substations and power corridor at various places with an investment of Rs 691.51 crore, it said.

Apart from signing of agreements for the existing projects, 107 private solar power players have registered with the TANDGEDCO for installation of 2,722.50 MW of solar power, of which load study has been undertaken for 1,132 MW.

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