According to reports, Adani Power is planning to set up a solar park in Tamil Nadu. The proposed park will have a solar-based power generating capacity of around 1,000 mega watt (Mw) and would involve an investment of around Rs 7,000 crore.
While an email and messages sent to Adani’s spokesperson did not elicit any response, the company’s PR agency responded saying Adani’s spokesperson would not like to comment on the story.
Meanwhile, a state government official and sources in Adani have confirmed the development. Adani sources said that an MoU was signed with the Tamil Nadu Government and it is at “exploratory” level. Sources at the State Government said that the project will be developed in four phases.
The company is exploring to set up the park at Kamuthi in Ramanathapuram district, around 550 km south of Chennai and source said that it is in the process of acquiring around 5,000 acres of land.
Going by the current market value, to set up one mega watt of solar based power, which is around Rs 7 crore, the project will involve an investment to the tune of Rs 7,000 crore.
Sources said that construction work would commence in the next eight months and the company may look at replicating Rajasthan model.
In January 2015 the company also along with SunEdison announced that they would build solar PV manufacturing facility in Mundra, Gujarat. This will be an integrated solar photovoltaic manufacturing facility in India with an investment of up to $4 billion (around Rs 25,000 crore).
The development comes on the backdrop of Centre decision to set up 1,00,000 Mw of solar capacity by 2022, and guidelines have been issued for setting up of at least 25 solar parks each with a capacity of 500 Mw and above across the country.
It may be noted, Tamil Nadu Electricity Board (TNEB) also said that it was planning to procure 3,000 Mw of solar power by the end of 2015. According to Chairman and Managing Director of Tamil Nadu Generation and Distribution Corporation Limited, M Saikumar over 200 firms have shown interest in signing Power Purchase Agreements (PPAs) for 2,000 Mw so far.
The present cost of solar power, which was more than Rs 7 a unit, would come down to Rs 5.45 by next year.
Officials also said PPAs for over 200 Mw of solar power had already been signed . These power plants were likely at Ramanathapuram, Virudhunagar and Tuticorin districts, the official added.