The government of Tamil Nadu will this month sign contracts with 16 solar power developers under a plan to add 1,500 MW of photovoltaic (PV) capacity in the Indian state.
Local media say that discom Tamil Nadu Generation and Distribution Corporation (Tangedco) has sealed memoranda of understanding (MOU) with four companies and the remaining 12 contracts are to be signed by the end of this month. The projects are estimated to require an investment of INR 90 billion (USD 1.37bn/EUR 1.16bn).
The photovoltaic (PV) plants will supply power at a tariff of INR 3.47 per kWh, which was set following an open tender held by Tangedco in May. The lowest proposal, which is also a record-low for the state, was launched by Raasi Green Earth Energy, which will set up a 100-MW solar park in Ramanathapuram district.
Overall, bids in the tender ranged from INR 3.47 per kWh to INR 4.00 per kWh. The discom has eventually asked developers to sign contracts at the lowest quoted price.
The largest capacity as a result of the tender will be installed by NLC India Ltd (BOM:513683). The Indian coal mining group will build 709 MW of PV plants, while Raasi Green and five other companies will construct 100-MW facilities. The remaining companies will add PV plants with capacities of between 1 MW and 54 MW.
(INR 100 = USD 1.525/EUR 1.294)
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