TN plans 23,000 Mw renewable, 3,000 gas projects over 10 years

In an effort to increase its footprint in renewable space, the Tamil Nadu Generation and Distribution Corporation (Tangedco) is planning to set up 20,000 mega watt (MW of solar power project with adequate battery storage, 3,000 MW of pumped storage hydro electric project, and 2,000 MW of gas based power units in the next ten years. These projects may require loan to the tune of ~1,32,500 crore. To provide technical expertise in developing renewable energy projects and for fund raising, Tangedco on Monday signed a memorandum of understanding with the Indian Renewable Energy Development Agency (IREDA), the largest lender in the RE sector. The MOU was signed by Pradip Kumar Das, chairman and managing director (CMD) of IREDA and Rajesh Lakhoni, CMD of Tangedco in the presence of M K Stalin, the Chief Minister of Tamil Nadu. Under the MOU, IREDA will extend its technical expertise to Tangedco for renewable energy project development, bid process management, and implementation support.