The company will invest Rs. 250 crore in phases
Aeon Renewable Energy Solution, the solar energy venture of Madurai Appu Chain of Restaurants, announced its plans to set up solar power plants in Pudukkottai and Virudhunagar (Tamil Nadu) with a total capacity of 25 MW. Announcing this at a press conference here on Tuesday, R. Chandrasekaran, Chairman said, the company was already in the process entering the domestic household market with rooftop installations. These products with a capacity of 1 kW, would produce at least 4000 watts (4 units) of power per day, he said. These would be launched by next month in Tamil Nadu initially and in Andhra Pradesh, Kerala and Karnataka subsequently, he said. The plan was to sell 18,000 sets per annum, Mr. Chandrasekaran said.
According to R. C. Sabarish, Managing Director, the company would invest Rs. 250 crore in phases.
The company has entered into a tie-up with China headquartered Yingli Solar, a world leader in the manufacture of solar panel for providing technology, he said.