According to reports, Zynergy Projects and Services Pvt Ltd (ZPSPL) intends to invest Rs 2,000 crore in a solar photovoltaics (PV) equipment manufacturing facility, and Rs 5,500 crore in developing a solar farm in Tamil Nadu.
The equipment facility is coming up on a 50-acre piece of land in the Nanguneri SEZ in Tirunelveli district and will produce silicon ingots, wafers, cells and panels worth 350 MW a year.
The solar farm is being put up in Ramnad district.
Zynergy plans to put up a 350-MW farm for which it will require 2,000 acres. The company has signed up with landowners for buying 1,000 acres so far, said Mr Rohit Rabindernath, CEO and MD, ZPSPL, at a press conference here today.
ZPSPL is a joint venture of Zynergy Capital Pte Ltd of Singapore, which holds 55 per cent of the company, and Mr Rohit Rabindernath, a Tamil Nadu-based businessman.
Apart from producing equipment and developing the solar farm, ZPSPL intends to offer EPC services to other solar farm developers for which it has a tie-up with Phoenix Solar of Singapore.
Technology for PV modules is being sourced from PV World Pte Ltd of Singapore. The modules will be capable of converting 18 per cent of sun’s energy falling on them into electricity. Each megawatt will produce 1.75 million units a year, said Mr Rabindernath.