Tata Power Solar, the leading Indian solar company, has successfully executed this solar power plant for the Chennai Silks group. The plant, executed in a record timeframe of 3 months, is one of the many premier projects by Tata Power Solar in Tamil Nadu. The plant is situated in Olappalayam and is expected to generate 3.1 million units of electricity in its first year of operation.
The Chennai Silks Group, the largest textile production group in Tamil Nadu, has forayed into solar to tap one of the most widely available sources of renewable energy. Power shortages are a major issue in Tamil Nadu, with several manufacturing facilities in the region suffering from shortages and relying on expensive diesel generators for power. This PV solar power can provide a clean, reliable & sustainable solution for the company, hence reducing the down time of their production units resulting in business efficiency.
Tata Power Solar’s capability of swiftly executing a captive solar power plant and build in record time is something remarkable. This has helped our organization to avail accelerated depreciation benefit at the earliest opportunity, coupled with REC benefit which helps reduce our working capital needs.” says N. K. Nandhagopal, MD, the Chennai Silks group.
The captive power plant will work under the REC (Renewable Energy Certificate) mechanism. As part of the REC mechanism, the Chennai Silks group will share the energy generated from this plant to Tamil Nadu Generation and Distribution Corporation (TANGEDCO) and in return will get an equivalent quantity of uninterrupted electricity supply to its factory situated at a distance from this solar plant. An additional income of about Rs. 3.0- 3.72 crores through trading of REC is expected besides Rs. 1.5 – 2.0 crores in year as energy cost savings.
Tata Power Solar’s renowned history of on-time completion and dedicated in-house team for providing complete EPC solutions, gives it a strong competitive advantage over others. We take pride in our association with the Chennai Silks group to execute their first Utility Scale Grid Connected Solar Power Project.” said Ajay Goel, CEO Tata Power Solar. “I am quite confident this project would act as a catalyst for other industries to adopt solar as the first alternate source of energy for their business needs.” he added.
Tata Power Solar has designed and built more than 70 MW of grid connected projects to-date. Some of the notable projects executed by TPS recently includes: 50 MW for NTPC in Rajgarh, MP (in progress), 17 MW power plant in Mithapur, 10MW project in Charanka for Emami.
According to April 2013 report by Central Electricity Authority (CEA), the energy deficit for the southern region was 18.1 per cent, compared to a national average of 8.3 per cent, and in Tamil Nadu the deficit was a high 17.5 per cent. Hence, the Tamil Nadu government is working towards bridging this gap with the help of renewable energy sources. The TN government is working towards mitigating the climate change effects by bringing out policies conducive to promote renewable energy generation in the State. It aims to make renewable, specially solar energy, as common a practice as rain water harvesting, so that it helps the states meets its target of generating 3,000MW solar energy by 2015.