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16 solar companies to invest Rs 9,000 crore in TN

The Tamil Nadugovernment on Tuesday signed memoranda of understanding with 16 solar power companies for 1500 MW of electricity. All the 16 companies will invest a total of Rs 9,000 crore in the coming year at the rate of Rs 6 crore per MW of solar power.

These companies had bid for various capacities of solar power for the year 2017-18 and won bids after they agreed to the lowest tariff of Rs 3.47 per unit.

The 16 companies led by Rasi Green, which won the bid at Rs 3.47 per unit, will set up solar plants in the state.

NLC will provide 709MW unit followed by six companies, 100MW each. Other companies have been allocated 1 to 54MW.

On Tuesday, two solar power companies signed MoUs in the presence of chief minister Edappadi K Palaniswami, state power minister P Thangamani and chief secretary Girija Vaidyanathan and TNEB chairman M Saikumar.

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