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 Climate Change

Energy
Published on: July 12, 2020, 8:10 a.m.
New 750 MW solar project installed in Madhya Pradesh
  • The Rewa solar power plant

By Business India Editorial

Prime Minister Narendra Modi dedicated to the nation a 750 MW solar project installed at Rewa, Madhya Pradesh, on 10 July -- consisting of three solar generating units of 250–250 MW each on 500 hectares of land located inside a solar park (total area 1,500 hectares). 

The solar park has been developed by Rewa Ultra Mega Solar (RUMSL), a joint venture company of Madhya Pradesh Urjavikas Nigam Limited (MPUVN) and Central Public Sector Unit Solar Energy Corporation of India (SECI). 

RUMSL was provided with Central financial assistance of Rs138 crore for development. 

Three solar generating units of 250 MW are located inside the park, set up through reverse auction through Mahindra Renewables, ACME Jaipur Solar Power, and Arinsun Clean Energy. 

"We’re particularly proud that @MahindraSusten - our big bet in renewables - is a key partner in this milestone achievement," tweeted businessman Anand Mahindra.

The Rewa project has achieved a first-year tariff of Rs2.97 per unit, with an escalation of Rs0.05 per unit over 15 years, and a levellised rate of Rs3.3 per unit over 25 years. 

The project will provide 24 per cent of its power to the Delhi Metro, while the remaining 76 per cent will be supplied to the state electricity distribution companies (discoms) of Madhya Pradesh.

“The World Bank investment in the solar park in Rewa has helped boost market confidence in the Indian solar sector. The park has managed to catalyze commercial funding, contributing towards India’s ambitious target of installing 100 GW of solar power capacity by 2022,” said Surbhi Goyal, Senior Energy Specialist.

The Rewa project adds to India's formal commitment to achieve 175 GW of installed renewable energy capacity by 2022.

The park aims to reduce greenhouse gas emissions by 1.3 million tonnes every year and nearly double the state's capacity to generate solar power.


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