SunEdison to invest Rs.13,000 crore in Tamil Nadu

Chennai, Sep 9 (IANS) US-headquartered solar energy company SunEdison on Wednesday said that it would invest around Rs.13,000 crore to set up 2,000 MW solar and wind power plants in Tamil Nadu.

“We plan to set up 2 GW (gigawatt) of capacity comprising of solar and wind in Tamil Nadu over the next five years. Each MW would involve an outlay of around Rs.6.5 crore,” Pasupathy Gopalan, president of SunEdison’s Asia-Pacific and Sub-Saharan Africa region, told reporters here.

SunEdison has signed a memorandum of understanding with Tamil Nadu government at the Global Investors Meet organised by the state government.

According to Goplan, the solar and wind projects would be standalone ones and not a hybrids.

Gopalan said the company recently acquired Continuum Wind Energy that is putting up a 150 MW wind power plant in Tamil Nadu.

He said the company’s strategy is to develop a project and list them and when capital base needs to be beefed up, the asset might be sold.

Asked about the funding mode for the proposed projects in Tamil Nadu, he said 75 percent would be debt financed by domestic institutions.

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