India's Adani inks 200-MW solar PPA with Tamil Nadu govt - report

India’s Adani Power Ltd (BOM:533096) and the government of Tamil Nadu have joined hands to install 200 MW of photovoltaic (PV) power capacity in the state, The Hindu said Friday, quoting officials.

In particular, the company inked a power purchase agreement (PPA) for the plant with TamilNadu Generation and Distribution Corp Ltd (TANGEDCO), officials from the latter were cited as saying. The solar complex, to be located in the city of Ramanathapuram, is estimated to require a total investment of nearly INR 14 billion (USD 219m/EUR 195m).

As previously reported, Adani is planning to construct 1,000 MW of solar power plants in Tamil Nadu. The firm is likely to apportion the investment by commissioning the facility in several phases, according to the report.

In 2012, the state government launched a Solar Energy Policy, which called for the development of 1,000 MW of utility-scale, rooftop and Renewable Energy Certificate (REC) projects annually through 2015. Yet, Tamil Nadu has so far managed to achieve only 5% of its target, The Hindu said. In May 2015, the state accounted for 3.8% of the commissioned 3.88 GW countrywide.

TANGEDCO recently signed 631 MW of solar PPA with grid-connection scheduled for March 2016. Another 2,200 MW are also feasible, according to its officials.

(INR 10 = USD 0.156/EUR 0.139)

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