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Tamil Nadu inks pact with Adani Group for 648 MW solar power plant

The Adani Group on Saturday signed an agreement with the Tamil Nadu government for setting up a 648 MW solar power plant in Ramanathapuram district.

The solar plant at Kamudhi in Ramanathapuram will be set up at an investment of Rs. 4,536 crore and the State will purchase the power generated at Rs. 7.01 per unit, according to a press release from the Tamil Nadu government.

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The plant at Ramanathapuram, which will have 5 power generation centres, will be the largest single solar power generation plant in the world, Rajesh Adani, Managing Director of the Adani Group, told government officials during a presentation, the press release said.

Tamil Nadu had set a target of generating 3,000 MW of solar power by 2015. The state will sign power purchase agreements for 1,000 MW by the end of this month, Electricity Minister Natham R. Viswanathan had said on Thursday.

Tamil Nadu expects to get about 2,000 MW of solar power by the end of this year.

The process of land acquisition was nearing completion and the group would begin work on the plant in July, Adani Group sources had told The Hindu earlier. The company is expected to fund the project through internal accruals and debt.

http://www.thehindu.com/business/Industry/adani-group-to-set-up-648-mw-solar-park-in-tamil-nadu/article7386719.ece

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