A leading solar power plant Developer Company Welspun energy got confirmation letter from Tamil Nadu Electricity Board for installation of 60MW solar PV power plant in Tamil Nadu.
The contract is for 25 years and the company will get 6.49 per unit as tariff in the first year. After this there will be a 5% increase in tariff each year, Vineet Mittal (co-founder and managing director of Welspun) said.
Electricity generated from the plant will be sold to Tamil Nadu’s power distribution company Out of the total capital cost of 540 crore Welspun will raise 400 crore from banks, and willing to expect it within two months and commission the project in March 2014.
Article Written by Sumit V Nawathe
For More Details contact: SNawathe@renewindians.com
