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RGEE’s 100MW Paramakudi solar park due online in April 2014

According to reports, the INR920 crore ($154m) park is being established as a joint venture between RGEE and Tamil Nadu Industrial Development Corporation (Tangedco), according to The Hindu.

Over 37 companies expressed an interest in setting up their solar units at the park. Seven, including two Germany-based companies, should sign commercial agreements with RGEE soon, said C. Narasimhan, chairman of RGEE.

RGEE entered into an engineering procurement contract with Larsen and Toubro for the project, he said, adding that RGEE would develop the park with an INR120 crore investment.

A further INR80 crore investment would go towards setting up a 10MW power unit, with the company investing between five and 11 per cent of the total project cost.

Tangedco is to sign power purchase agreements with the companies setting up units in the park, Narasimhan said.

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