Aeon Renewable Energy Solution, a division of Madurai Appur chain of restaurants, is set to invest Rs 250 crore to set up 25MW of solar power plants in Tamil Nadu.
The company makes its foray into solar energy though a partnership with Yingli Green Energy which will supply solar modules and carry out the EPC (engineering, procurement and construction) for the power plants.
Aeon Renewable plans to put up its solar plants at Pudukottai and Viridhunagar in Tamil Nadu and will initially be investing Rs 50 crore for a 5MW plant in Pudukottai. In the second phase, the company will invest Rs 100 crore for a 10MW plant in Viridhunagar, and will then set up two more 5MW plants in each of the towns in the third phase of the investment. Aeon, which plans to sell its power at about Rs 10 a unit, and is in talks with several industries to sign power purchase agreements, the company's managing director R C Sabarish said.
Aeon will also launch its rooftop solar systems in February this year, promising generation of a minimum of 4 units a day.
The company will operate through 150 distributors across south India and plans to recruit about 300 people for its installation and after sales service teams, the company's chairman R Chandrasekaran said.