Chennai, Dec 13 : The Tamil Nadu Government today signed a Memorandum of Understanding (MoU) with M/s Raasi Green Earth Energy Private Limited for setting up of a Solar Power Park, for the first time in India, at Paramakudi in Ramanathapuram district involving an investment of Rs 920 crores.

The MoU was signed by Tamil Nadu Industrial Development Corporation (TIDCO) Chairman and Managing Director Hans Raj Verma and Raasi Green Earth Energy Private Limited Chairman and Managing Director C Narasimhan in the presence of Chief Minister J Jayalalithaa at the State Secretariat. About 100 MW of Solar power would be produced in the Park, which would come up in a 500 acre area. The Park, to be set up under the Public-Private-Partnership Mode, would be completed in 12 months.

It would provide direct and indirect jobs to 2000 people. This would be the first Park to be set up under the new Solar Power Policy unveiled by Ms Jayalalithaa and the first to be set up exclusively for solar power generation in India. The park is being opened with the aim of attracting investors to set up Solar Power generating plants and the government would provide all infrastructure facilities required for the solar power producers.Speaking on the occasion, Ms Jayalalithaa promised all support from the State government for the park and to the investors.

"I assure you of the total co-operation of the State Government. I am happy to know that you plan to expand the capacity to 1000 MW and I hope that this will prove to be a launching platform for many more such Solar Power Projects to be established in Tamil Nadu", she added. "I wish your project all success", she said. Ms Jayalalithaa, while unveiling the Vision 2023 Document earlier this year, had targetted to generate 5000 MW of solar Power in the next 11 years.

The solar Power Policy released by her has targetted to produce 3000 MW of power by 2015. To achieve this target, she has directed the TIDCO to set up Solar Power parks to implement solar power projects to generate 1000 MW of power in the next five years and today's signing of MoU was a step in this direction.

- Agencies