CHENNAI: In a bid to achieve its ambitious target of producing 5,000 MW of solar power by 2021, the Tamil Nadu government on Tuesday signed MoUs with 4 out of the total 16 firms that would generate 1,500 MW of power by investing a whopping Rs 9,000 crore.
The MoUs were signed between Tangedco and firms like NLC India Limited, Rasi Green Earth Energy Private Limited, NVRG Energy Private Limited and Narberam Visram in the presence of Chief Minister Edappadi K. Palaniswami, power minister P. Thangamani and chief secretary Girija Vaidyanathan. MoUs with the remaining 12 firms would be signed on September 30.
The government would buy power at the rate of '3.47 per unit from the companies once they start generating electricity. Officials said the firms are investing Rs 6 crore for generation of 1 MW of power and the total investment for generating 1,500 MW of solar power is Rs 9,000 crore.
“Currently, Tamil Nadu generates 1,747 MW of solar power and by the end of this year, another 700 MW would be added to the grid. And these firms would generate 1,500 MW of power, thereby achieving the target of 5,000 MW of solar power by 2021,” an official press release said.
It may be recalled that late Chief Minister J. Jayalalithaa had taken to focus on the generation of solar power to ensure that the environment does not get affected.
Industry sources said the tariff of Rs 3.47 is well above the lowest solar bid in the country so far of Rs 2.44 per unit, made at an auction at the Bhadla Solar Park in Rajasthan in May.
Tamil Nadu, reeling under severe power cuts in the early years of this decade, has become a power surplus state. The AIADMK government has been claiming that late Jayalalithaa led the efforts to make Tamil Nadu power surplus state.
