Chennai Silks Group, based in Coimbatore has commissioned its first 2 MW captive solar power plant in Tirupur district.
The plant will be setup by Tata Power Solar at the cost of Rs. 16 crore and will generate 3.1 million units of electricity during the first year.
The solar plant will work under REC mechanism and would have an income of 3 to 3.72 crore through it. Read more on REC here.
The group would share energy with Tamil Nadu Generation and Distribution Corporation (TANGEDCO) and in return will get an equivalent quantity of uninterrupted electricity supply to its textile unit situated at a distance from this plant.
The group has plans to add another 12 MW at the same location with an investment of Rs.125 crore. A three MW plant would be commissioned by September and another nine or 10 MW by March next year, Nandagopal later said.
REC application and issuance procedures
Pricing of the Renewable Energy Certificates