Seven companies, including two Germany-based firms, will be signing agreements

The Rs. 920-crore solar energy park, being established at Paramakudi near here, would be ready in next three months and would make available 100 MW of power to the Tamil Nadu Generation and Distribution Ltd (Tangedco) in April next year, Mr C.Narasimhan, Chairman, Raasi Green Earth Energy Private Ltd (RGEE) has said.

Addressing a press conference here on Tuesday, he said RGEE is establishing the park in joint venture with Tamil Nadu Industrial Development Corporation and the bhoomi pooja for the park would be held on July 21 at Kavanur, near Paramakudi.

Three months after the foundation stone is laid, the park with ‘semi plug and play facilities’ would be ready for the companies to set up solar power units, he said. More than 37 companies evinced interest in setting up their units in the proposed park and seven companies, including two Germany-based companies, would soon be signing commercial agreements with RGEE, he said.

RGEE entered into an Engineering Procurement Contract (EPC) with Larsen and Toubro for executing the project, Mr. Narasimhan said, adding the company would develop the park with an investment of Rs 120 crore.

It would also set up a 10-MW power unit with an additional investment of Rs 80 crore. It is expected to invest a minimum of 5 per cent and a maximum of 11 per cent of the total project cost, he added. The company proposed to acquire 1,000 acres of land and had already acquired and registered 300 acres, he said. Companies, which had shown ‘expression of interest’ would be required to set up a unit to produce a minimum of 10 MW of power involving an investment of Rs 80 crore at the rate of Rs 8 crore per MW, he said. Tangedco would be signing power purchase agreements with companies that would be setting up units in the park, he added.

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