Tangedco inks PPAs with solar power companies
Tamil Nadu Generation and Distribution Corporation has entered into power purchase agreements with 16 solar power generation companies for supply of 1,500 MW of solar power.
According to an official release, the agreement was signed today in the presence of Chief Minister Edappadi K Palaniswami. The companies, including Neyveli Lignite Corporation which will supply 709 MW, participated in an open tender called by the utility.
The installed capacity proposed by other players range from 100 MW to 1 MW. They will supply power at ₹3.47 a unit. The projects will come up at a total investment of about ₹ 9,000 crore.
Tangedco will enter into similar agreements with 12 more companies on September 30, the release said.
Tamil Nadu now has an installed capacity of about 1,747 MW of solar power generation capacity with 700 MW to be established in the current year. With the present agreement providing for an additional 1,500 MW, the State will meet its target of 5,000 MW of installed capacity by 2021, the release said.