Tamil Nadu government today signed agreements with 16 companies that would invest Rs 9,000 crore for setting up solar power plants to generate 1,500 MW solar energy in the state.
In the first phase, officials of NLC India Ltd, Bengaluru-based Raasi Green Earth, Narbheram Vishram Kolkata and NVR Energy exchanged documents with Electricity Minister P Thangamani in the presence of Chief Minister K Palaniswami at the Secretariat today, an official release said.
For generation of 1,500MW power, the Tamil Nadu Electricity and Generation Distribution Corporation had floated tenders, it said.
After receiving the approval from Electricity Regulatory Commission, the agreements were signed with the companies for procurement of solar power at Rs 3.47 per unit, it said.
Currently, Tamil Nadu has solar power plants generating 1,747 MW solar energy. By the end of this year, it has been planned to set up solar power plants that would generate 700 MW, the release said.
With today's signing of agreements for generation of 1,500 MW solar energy, the target of generating 5,000 MW of power by 2021 will be achieved, the release added.
(This article has not been edited by Zeebiz editorial team and is auto-generated from an agency feed.)