The Adani group on Saturday entered into an agreement with Tamil Nadu government to set up a nearly 650 MW solar power park at Ramanathapuram-Kamudhi belt with an estimated investment of Rs 4,536 crore.
This is considered to be the world's largest solar park at one place, a state government statement, quoting Rajesh Adani, managing director, Adani Enterprises, said .
Rajesh Adani and Tamil Nadu generation and distribution company (TANGEDCO) CMD M Saikumar signed the agreement in the presence of chief minister J Jayalalithaa at the state secretariat.
As part of this agreement, the state government would buy the entire 648 MW solar power to be produced by the company at a price of Rs 7.01, a unit fixed by TN Electricity Regulatory Commission (TNERC) in September 2014. The agreement with Adani group is for 25 years and the group would soon begin work once it get necessary approvals from both central and state governments.
The company is expected to promote the park under different entities and the power production would go on stream in the first quarter of next year , sources here said.
With Adani's 648 MW power, Tamil Nadu government so far signed agreements with 32 players for purchasing 1,084 MW till date. Earlier 31 players signed pact with the government for a combined capacity of 436 MW, the state government release said.
At the signing event, Tamil Nadu Chief Minister J Jayalalithaa said that "I hope the project is successful and I hope your partnership with Tamil Nadu will continue."
Ealier Rajesh Adani had said that this project going to be the world's single largest solar power park.
The agreements are part of the state government's solar policy, unveiled in 2012, sought for purchase of 3,000 MW in three years (by 2015 – each year 1,000 MW) at a rate fixed by TNERC.
In addition to the above, there are around 107 solar power producers with a combined capacity of 2,722.50 MW have already shown interest and registered with the state government to set up plants.
Out of those, 53 players with a combined capacity of 1,132 MW power, have already done the feasibility study and hope to sign the pact in the near future.
Power purchase agreements would be signed with other players once they submit requirement documents, including caution deposit, land deal agreements among other things, the state government statement said further.
To facilitate smooth transmission of power generated at the park, the government will invest Rs 435.50 crore to set up 400KV sub station at Ramanathapuram/Kamudhi area and will also spend Rs 47.50 crore for new substation at Tiruchuzhi.
In addition to this, another Rs 208.50 crore will be spent towards substation and transmission lines at Ramanathapuram , Virudunagar and Sivaganga districts.
Source- Indian Express