State-run NHPC Ltd will set up a 50 MW solar power plant at an investment of over Rs 300 crore near Madurai in Tamil Nadu and expects it to get completed by March next year.
"Board of Directors of the company at its meeting held on October 12, 2015 has approved the award of EPC contract for 50 MW Solar power project in the state of Tamil Nadu," NHPC informed BSE.
"The electricity produced from this 50 MW plant to be located near Madurai will be supplied to Tamil Nadu state. NHPC Ltd will soon sign a power purchase agreement for the purpose with Tamil Nadu Generation and Distribution Corporation Limited," a senior company official said.
The official said that company has planned to complete this project by the end of this fiscal.
Currently, the company company does not have any solar power generation capacity, another official added.
The company did not divulge details about tariff of electricity to be supplied from this project.
Last year in October, NHPC had inked an agreement with Uttar Pradesh New and Renewable Energy Development Agency for setting up its first solar power project in the state at a cost of Rs 400 crore.
As per the promoters' agreement, Uttar Pradesh New & Renewable Energy Development Agency (UPNEDA) and NHPC had to set up a Joint Venture Company for implementation of solar power project in Uttar Pradesh.
Initially this joint venture company had to implement a 50 MW grid connected solar power project at Parason, Uttar Pradesh, for which an initial pact was signed UPNEDA and NHPC in August 2013.
