Southern Solar is build a 100MW solar farm in phases, in Tamil Nadu, India, according to reports.
According to RTT News, Gestamp and Zynergy’s joint venture (JV), Southern Solar, will complete the first 25MW of the project by March. It has been noted that Rohit Rahindernath, CEO and MD of Zynergy stated that the Southern Solar will buy 202 hectares in the Madurai and Ramnad districts, with the JV planning to sell the power generated by the plants directly to industrial consumers.
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Supposedly, the JV has already signed memorandums of understanding (MOUs) with possible buyers for the distribution of power for 10MWs of the project and is in the midst of negotiating power purchase agreements (PPAs) with them. Rahindernath explained that the PPAs will more than likely be for 25MW and so the initial phase for the solar projects will be for the same capacity.
Rahindernath has reportedly confirmed that Southern Solar will sell the electricity at Rs.9 (US$0.17) and above per unit. Benefits that the JV would get from trading in the renewable energy certificates are to be shared with the electricity buyers.