Adani, Tamil Nadu Ink Rs Rs 4,536 Crore Deal

Published: 05th July 2015 05:58 AM  |   Last Updated: 05th July 2015 07:42 AM   |  A+A-

CHENNAI: The Adani Group has proposed to set up the world’s largest solar park, comprising five units, in Kamudhi taluk of Ramanathapuram district at a cost of Rs 4,536 crore.

The Tamil Nadu Generation and Distribution Corporation (TANGEDCO) on Saturday signed an agreement with the Adani Group in the presence of Chief Minister J Jayalalithaa and Adani Group managing director Rajesh Adani, at the Secretariat for the purchase of 648 MW of power to be generated from the five units.

“I am very happy to be here. I hope the project is successful and I hope your partnership with Tamil Nadu will continue,” the CM told Rajesh Adani, on the occasion. 

So far, agreements between TANGEDCO and Adani Group have been signed for procuring 1,084 MW of solar power. Through these agreements, solar power companies will invest a whopping Rs 7,588 crore.

Jayalalithaa.JPGAs per the Solar Power Policy 2012 of the Tamil Nadu government and the price fixed by the Tamil Nadu Electricity Regulatory Authority on September 12, 2014, the solar power would be purchased at Rs 7.01 per unit.

To transmit the power generated in the southern districts, a 400 KV sub-station is being set up at Kamudhi in Ramanthapuram district at a cost of Rs 435.50 crore and another sub-station (230 KV) at Tiruchuzhi at a cost of Rs 47.51 crore.

Besides, power infrastructure improvement works are being undertaken at a total cost of Rs 208.50 crore in the districts of Ramanathapuram, Virudhunagar and Sivaganga.

TANGEDCO has already inked power purchase agreements with 31 private players to procure 436 MW of solar power.  Apart from this, 107 solar power companies have registered with the TANGEDCO for establishing 2,722.5 MW solar power units in the State. Of this, load factor analysis has been completed for 53 units which generate 1,132 MW. Once these companies submit their land documents and pay the deposit amounts, steps would be taken to sign the power purchase agreements.

The Adani Group’s goal is to set up 10,000 MW of power generation capacity across the country by 2022. The TN government, in its Solar Energy Policy 2012, had planned to establish 1,000 MW of utility-scale, rooftop and renewable energy projects in 2015.

The Adani Group had already applied to the Department of Industrial Policy and Promotion (DIPP) for clearance through three different entities — Kamuthi Solar Power, Ramnad Solar Power and Ramnad Renewable Energy. A major portion of the investment for the project is said to be from internal accruals. Adani already has a significant presence in power generation in the country - a 5,000 MW solar plant is set to come up in its solar park in Rajasthan. Adani Power has an installed thermal power capacity of 10,480 MW.

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