TEDA Seeks Bids for Solar Parks in Tamil Nadu

TEDA has set three objectives for development of solar parks in the state such as develop quality infrastructure for solar energy, bring appropriate technology to achieve optimum efficiency, and achieve energy security in the state of Tamil Nadu.

Riding on the ‘Vision Tamil Nadu 2023’ for renewable energy and the renewable energy purchase Obligations (RPO) set by the Ministry for New and Renewable Energy (MNRE), Tamil Nadu Energy Development Agency (TEDA) has sought bids for developing solar parks in the state.

The combined capacity of the solar parks is 500 MW and would be developed at one or multiple locations across Tamil Nadu.

The development of the parks would be done under two models; Self-Development and Co-Development.

Under the Self-Development model, interested parties with adequate land and financial resources, experience and expertise can opt to set up a solar park of the prescribed capacity. However, the land required for setting up of the solar park will be identified and acquired by the Solar Power Park Developer (SPPD).

The developers must have 5 acres of land per MW to show for the development of the solar park.

Co-Development model can be availed by small and marginal farmers, individual/s, women Self Help Groups, Farmers’ Welfare Associations and Gram Panchayats. Parties having land can lease it for the development of solar parks.

According to TEDA it will be a win-win situation for both land owners and the project. The land owners will continue to own their land and also get a regular income from the project.

The applicants would be required to form a Special Purpose Vehicle (SPV) in the form of a Private Ltd. Company and the required extent of land will have to be leased by the land owners to this SPV on long term lease.

Under this model, TEDA can explore the possibility of funding the project through its financial partner subject to due diligence and clearance.

TEDA has set three objectives for development of solar parks in the state such as develop quality infrastructure for solar energy, bring appropriate technology to achieve optimum efficiency, and achieve energy security in the state of Tamil Nadu.