Nagineni Natural Resources is planning to set up a solar-based power unit at Komatikuntla village, Putlur mandal, in Anantapur district of Andhra Pradesh.

An official from the company told ProjectsToday (PT), that for setting up a 100 MW (thin film and crystal line technologies) solar-based power unit, it has appointed Prestige Estate Projects as the consultant and Tata Power Solar Systems as the contractor for the project.

The company has already acquired 600 acre and received pollution clearance from Andhra Pradesh Pollution Control Board for the project. The project, estimated to cost Rs 700 crore, will be funded through debt equity ratio of 80:20. Some EPC contractor/suppliers have evinced interest to finance the project. The project is slated to be completed by December 2014.

Meanwhile, the company is in talks with open access consumers for signing the power purchase agreement (PPA) for the project.

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