SunEdison signs 2-GW renewables pact in India's Tamil Nadu

US renewables major SunEdison Inc (NYSE:SUNE) announced on Wednesday it plans to develop 2 GW of wind and solar projects in the Indian state of Tamil Nadu over the next five years.

The company has entered into a memorandum of understanding (MoU) for the plan with the Tamil Nadu state government. The move aligns with SunEdison’s commitment to deploy 15.2 GW of renewable energy capacity in India by 2022, it said in a press release.

SunEdison expects to invest between INR 120 billion (USD 1.8bn/EUR 1.6bn) and INR 140 billion to realise the projects in Tamil Nadu, Pashupathy Gopalan, the company’s president and managing director for the Asia-Pacific region, said at the Global Investors Meet event, as cited by The Hindu. Gopalan also mentioned that the planned solar projects will total 1.2 GW and the rest will be wind schemes.

So far, the developer has identified sites in Virudhunagar, Tuticorin, Tiruchi and Perambalur for the projects and is already working on installations totalling 200 MW, he said, as quoted by the newspaper. The projects will be implemented in phases of 10 MW to 50 MW, according to the report.

(INR 10 = USD 0.150/EUR 0.135)

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