Solar energy solution provider Rays Power Infra today announced a power purchase agreement with TANGEDCO for development of 100 MW project through solar power solutions in Tamil Nadu.
This project will provide power at an attractive rate of Rs 3.47 per unit to TANGEDCO (Tamil Nadu Generation and Distribution Corporation Ltd), a Rays Power Infra statement said.
According to the statement, this is part of the 15,000 MW, Rs 11,369 crore inter-state power corridor promoted by the Government of India. It is expected to be ready by May 2019.
This will ensure a robust renewable energy evacuation network and is expected to remove any potential problems in the power grid of the region.
The project shall also be connected to a 400 kV substation to ensure that there are no grid outages, it said.
Commenting on the PPA, Ketan Mehta, Chief Executive Officer, Rays Power Infra said in statement, “Signing this PPA is a watershed moment for us, as it will help us tap into the existing solar potential of the state, while making use of the best of our innovative technology and our skilled manpower. We look forward to executing this project on time and delivering the best to TANGEDCO.”
On the completion of this project, Rays Power Infra will increase its total portfolio of commissioned projects to over 500 MW in India and will make substantial progress in meeting its target of generating 300 MW of power through its solar power projects in the next financial year, it added. PTI