Adani's Rs. 5,000-cr solar park to sign PPA with Tamil Nadu power agency.

The Adani Group has decided to invest Rs. 5,000 crore for establishing 700-MWsolar power generation capacity in Tamil Nadu. The investment is part of the group's long-term goal to establish 10,000-MW solar generation capacity across the country by 2022. A senior source in the group confirmed the development and said the company would sign a power purchase agreement with the state power utility in the next forthnight. It is learnt Tamil Nadu Generation and Distribution Corporation Ltd. (Tangedco) would purchase the entire power from the project at Rs. 7.01 a unit for the next 25 years. State government and Tangedco officials confirmed the group was setting up the plant in various phases in Ramanathapuram district. Construction activity is expected to commence from next month. Sources close to the group added one of the subsidiaries of Adani Enterprises had even planned to set up a solar park, including panel manufacturing facility, in the state. However, it had now limited its engagement to solar power generation. Sources also added the company would have to commence supplying the power by March next year. The group is confident the facility would be ready by February next year.