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After announcing solar parks in Gujarat and Rajasthan, Adani Power has firmed up plans to set up a 1,000-megawatt (Mw) one in Tamil Nadu. The proposed energy park is likely to attract around Rs 7,000-crore investment.
Although an Adani spokesperson declined to comment, a state government official and sources in the company confirmed the development.
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The sources said a deal had been signed with the state government and the project is at an “exploratory” level.
Sources at the state government said the project would be developed in four phases.
The company is planning to set up the park at Kamuthi in Ramanathapuram district, around 550 km south of Chennai, and is in the process of acquiring approximately 5,000 acres, the sources said.
Going by the current market value, to set up a 1 Mw solar-based power plant, the company would need around Rs 7 crore.
Sources said construction would commence in the next eight months and the company might look at replicating its Rajasthan model.
In February, Adani Enterprises, flagship company of the Adani Group, had entered into an agreement with the Rajasthan government to develop solar parks having a capacity of 10,000 Mw in 10 years.
In January, the company, along with SunEdison, announced they would build a solar photovoltaic manufacturing facility in Mundra, Gujarat.
This would be an integrated solar photovoltaic manufacturing facility, with an investment of up to $4 billion (Rs 25,000 crore).
The development comes against the backdrop of the Centre’s decision to set up 100,000 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.
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The Tamil Nadu Electricity Board had also said it was planning to procure 3,000 Mw of solar power by the end of 2015.
According to Tamil Nadu Generation and Distribution Corporation Chairman and Managing Director M Saikumar, above 200 companies have shown interest in signing power-purchase agreements (PPAs) for 2,000 Mw so far.
Estimates say the present cost of solar power, more than Rs 7 a unit, would come down to Rs 5.45 by next year.
Officials also said PPAs for 200 Mw of solar power had already been signed.
These plants are likely to come up at Ramanathapuram, Virudhunagar and Tuticorin districts of Tamil Nadu, the officials added.
PROGRESS ON PROJECT
- The proposed solar park would come up at Kamuthi in Ramanathapuram district, around 550 km south of Chennai
- Adani Power is in the process of acquiring approximately 5,000 acres
