The MoU was signed between the Government of Tamil Nadu and Rajeev Karthikeyan, Founder and MD of Leap Green Energy during the 2nd Global Investors Summit.
Tamil Nadu-based renewable energy company Leap Green Energy has signed an agreement with the state government for generating 250 MW from a wind power plant project.
The Memorandum of Understanding (MoU) was signed between the Government of Tamil Nadu and Rajeev Karthikeyan, Founder and MD of Leap Green Energy during the 2nd Global Investors Summit held on January 23 24, 2019.
The Government of Tamil Nadu organised the summit with an aim to showcase potential business opportunities to attract investments from 12 key sectors including renewable energy.
As per the deal signed, the total investment slated for the project will be Rs 1700 crore in the coming year, the company said in a statement.
Leap Green Energy is one of the largest producers of wind power in the state.
Commenting on the deal, Leap Green Energy, Founder and MD, Rajeev Karthikeyan said, We have been fortunate to have a long standing relationship with the government of Tamil Nadu. The MOU will help in implementing and achieving our vision of having an installed capacity of 2 GW by 2020. The future of the country is undeniably in harnessing green renewable energy. We are happy to contribute towards this and in achieving the development goals of the state. We are proud to be part of this progressive initiative and the long term vision of Tamil Nadu.
Tamil Nadu state ranks 9th globally in net share of wind energy in total power generation. The state has an installed capacity of 8,152 MW of wind power and harnessed around 13,000 million units of wind energy during the year 2017-18.
Meanwhile, the MoU also stated that the company will employ 85 people directly or indirectly from the state of Tamil Nadu and government to offer regulatory facilitation and infrastructural support to the company during the project.