Rays Power signs pact with Tangedco to sell solar power at Rs 3.47 per unit

Rays Power Infra, a solar energy company started by professors and students of the Indian Institute of Technology (IIT) Roorkee, has signed a power-purchase agreement (PPA) with Tamil Nadu Generation and Distribution Corporation Ltd (Tangedco) to sell 100 Mw of solar power at Rs 3.47 per unit.
This is part of the 15,000-Mw, Rs 11,369-crore inter-state power corridor in Tamil Nadu promoted by the Centre and expected to be ready by May 2019. The project will be connected to a 400 kV substation to ensure there are no grid outages.
Rays Power Infra Chief Executive Officer Ketan Mehta said Tamil Nadu is an increasingly important market for the company, especially given the level of interest and support for renewable energy projects in the region. Read More...