PM Modi to Dedicate 750 MW Rewa Solar Project to the Nation

PM Narendra Modi will dedicate to the nation the 750 MW Solar Project set up at Rewa, Madhya Pradesh on July 10, 2020.

Prime Minister Narendra Modi will dedicate to the nation the 750 MW Solar Project set up at Rewa, Madhya Pradesh on July 10, 2020. The Rewa Ultra Mega Solar Park in Madhya Pradesh comprises of three solar generating units of 250 MW each located on a 500-hectare plot of land situated inside a Solar Park (total area 1500 hectare).

The Solar Park was developed by the Rewa Ultra Mega Solar Limited (RUMSL), a Joint Venture company of Madhya Pradesh UrjaVikas Nigam Limited (MPUVNL), and the Solar Energy Corporation of India (SECI). A Central Financial Assistance (CFA) of Rs 138 crore has been provided to RUMSL for the development of the park.

Mahindra Renewables, ACME Jaipur Solar an SPV of ACME Solar, and Arinsun Clean Energy were selected by RUMSL through an e-reverse auction for developing the three solar generating units of 250 MW each inside the solar park.

The projects built in the park were the very first in the country to break the grid parity barrier. Compared to prevailing solar project tariffs of approximately Rs. 4.50/unit in early 2017, the projects achieved historic results: first-year tariff of Rs. 2.97/unit with a tariff escalation of Rs. 0.05/unit over 15 years and a levelised rate of Rs. 3.30/unit over the term of 25 years.

The three projects are expected to reduce carbon emission equivalent to approximately 15 lakh tonnes of CO2 per year.

The project has been acknowledged in India and abroad for its robust project structuring and innovations. Its payment security mechanism for reducing risks to power developers has been recommended as a model to other states by MNRE.  It has also received the World Bank Group President’s Award for innovation and excellence.

The project is also the first renewable energy project to supply to an institutional customer outside the State, i.e. Delhi Metro, which will get 24 percent of energy from the project with the remaining 76 percent being supplied to the state Discoms of Madhya Pradesh.

As per a press statement, the solar park exemplifies India’s commitment to attaining the target of 175 GW of installed renewable energy capacity by the year 2022, including 100 GW of solar installed capacity.