The US headquartered solar power company SunEdison Inc. and the city based Brakes India Ltd have jointly set up a 7.72 MW solar power project at the latter's facility in Tamil Nadu, said a top official of SunEdison.
The Rs.66 crore project implemented by a special purpose vehicle (SPV) will be the largest group captive solar project in India, Pashupathy Gopalan, president of SunEdison Asia-Pacific, told reporters here Wednesday.
SunEdison holds 70 percent stake in the SPV while the balance is held by Brakes India.
Brakes India approached SunEdison to develop this project to be in compliance with the Solar Purchase Requirement set out by the Tamil Nadu Electricity Regulatory Commission (TNERC) and the Tamil Nadu Generation and Distribution Corporation Limited (TANGEDCO).
The last two organisations had said that high tension wire customers must source six percent of their energy use from solar power.