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A consortium of automotive component manufacturers in Chennai is planning to set up around 50-Mw solar power capacity in Tamil Nadu with an investment of Rs 300 crore over the next 2-3 years. The power produced from here will be used for captive purpose.
At today's rate, setting up a one mega watt of solar farm would cost Rs 6-6.5 crore.
Meanwhile, Mahindra EPC Services Pvt Ltd, the solar EPC arm of $16.2 billion Mahindra Group, today said it had commissioned two solar plants for the consortium. These include a 2.12-Mw plant for MM Forgings Ltd and a 1.06-Mw plant for Super Auto Forge Pvt Ltd located in Aruppukottai near Madurai. In addition, the consortium consists of IM Gears, Rane Group and Autotech Industries (India) Private Ltd.
Murali Shankar, joint managing director of Super Auto Forge Pvt Ltd, said more auto-components manufacturers were keen on joining the consortium.
Seetharaman, chairman and managing director, Super Auto Forge, said: "Individually, we cannot buy land in large scale." The five consortium members are planning to procure around 390 acres of land. Around 200 acres had already been purchased.
The Tamil Nadu government has imposed a minimum solar purchase obligation on all commercial consumers, which made six per cent solar power procurement mandatory from the total consumption.
Mahindra EPC solar parks to be ready by Sept '14
Mahindra EPC Services Pvt Ltd expects its two solar parks with a proposed capacity of (2x120-Mw) to be ready for occupation by September 2014. The company is expected to complete land procurement (around 600 acre) for each park by March 2014.
It is developing a solar park near Tiruchirappalli and another near Madurai with a total investment of around Rs 80-100 crore, said Basant K Jain, chief executive officer, Mahindra EPC Services.
"We are looking for more places in other states to develop solar facilities," Jain added.
The company has over 150-Mw solar projects in the pipeline in Tamil Nadu, and these are expected to be completed by the end of 2014.
