Chennai:
In its first major initiative after launching the solar policy, the Tamil Nadu on Thursday signed an MoU with Raasi Green Earth Energy to set up a solar park, at an investment of Rs 920 crore to generate 100 MW of power.
The project to come up on 500 acres in Paramakudi taluk in Ramanathapuram district would be the first solar park to be set up on a public-private partnership in the country, an official release said.
"Tamil Nadu Industrial Development Corporation Managing Director Hansraj Varma exchanged documents with Raasi Green Energy President and Managing Director, C Narasimhan for setting up the solar park at a cost of Rs 920 crore in the presence of Chief Minister J Jayalalithaa", it said.
The solar park would be established with infrastructure facilities in order to attract more investors to set up similar projects under the PPP mode, it said.
About 2,000 jobs both direct and indirect would be created under this project, which is expected to be completed in 12 months.
Assuring her government's support in the project, Jayalalithaa said it would prove to be a launching platform for many more such solar power projects to be established in Tamil Nadu.
Facing acute power crisis, the Government had recently announced the Solar Policy, which seeks to produce 3,000 MW by 2015.
The policy also encourages setting up solar parks as part of efforts to generate solar power. The government has issued orders to Tamil Nadu Industrial Development Corporation to execute solar power projects generating 1,000 MW in the next five years under the public-private partnership mode, the release added.