Adani Group and Tamilnadu Government sign 648 MW solar MoU worth $715 million

Tamil Nadu’s Ramanathapuram district to get five solar PV power plants

Adani Group, has signed a MoU with TANGEDCO – Tamil Nadu Generation and Distribution Corporation to develop solar capacity of 648 MW with five solar PV plants. Once completed, the project would be one of the world’s largest solar power generation centers.

Solar energy from the plant will be purchased by TANGEDCO at a price of Rs. 7.01 per unit; once the power purchase agreement (PPAs) is signed. TANGEDCO, has earlier signed power purchase agreements for 436 MW of solar energy with 31 private developers in total.

This MoU is expected to attract more and more private players to invest in solar energy sector in the state of Tamil nadu.”

Adani Group aims to achieve about 10 GW of solar energy by 2022, and the group is already into a joint venture with the Rajasthan Government to create a 10 GW solar park, India’s largest solar park with an estimated investment of more than $9 billion. This project will also house manufacturing facility under ‘Make In India’ initiative.

Adani Group has also signed an MoU with SunEdison to create a $4 billion solar panel fab in the state of Gujarat, India.

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