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In a bid to achieve its ambitious target of producing 5,000 MW of solar power by 2021, the Tamil Nadu government signed MoUs with 4 out of the total 16 firms that would generate 1,500 MW of power by investing a whopping Rs 9,000 crore. The MoUs were signed between Tangedco and firms like NLC India Limited, Rasi Green Earth Energy Private Limited, NVRG Energy Private Limited and Narberam Visram in the presence of Chief Minister Edappadi K. Palaniswami, power minister P. Thangamani and chief secretary Girija Vaidyanathan. MoUs with the remaining 12 firms would be signed on September 30. The government would buy power at the rate of Rs 3.47 per unit from the companies once they start generating electricity. Officials said the firms are investing Rs 6 crore for generation of 1 MW of power and the total investment for generating 1,500 MW of solar power is Rs 9,000 crore.