New Delhi: Prime Minister Narendra Modi on Friday will dedicate to the nation a 750 MW solar project installed in Rewa, Madhya Pradesh. Outside the state, Delhi Metro will be one of its institutional customers. A statement issued by the Prime Minister’s Office said on Thursday that the project consists of three 250-250 MW solar generating units on 500 hectares of land located inside a solar park. According to the statement, “This project will reduce carbon emissions equivalent to about 1.5 million tonnes of carbon dioxide annually.”
The Prime Minister will dedicate the name of the project to the nation in a ceremony organized through a digital medium. The project is also the first renewable energy project to be supplied to an institutional customer outside the state. It will provide 24 per cent of its total electricity to the Delhi Metro, while the remaining 76 per cent will be supplied to the state electricity distribution companies (discoms) of Madhya Pradesh.
The Rewa project is also an example of India’s commitment to achieving the target of 175 GW (GW) of installed renewable energy capacity by 2022, with a solar installed capacity of 100 GHz (GW). The statement said that the Rewa Solar Project is an excellent example of the results achieved when there is coordination between the central and state governments. The project is the first solar project in the country to break the grid parity barrier.
The Rewa project increased by Rs 0.05 per unit for 15 years to Rs 2.97 per unit in the first year and 3.30 for a period of 25 years, compared to the rate of about Rs 4.50 per unit of the then existing solar project in early 2017. Achieved historical results with a level rate of Rs per unit. According to the statement, the Rewa project is known in India and abroad for its solid project structure and innovations. Its payment protection mechanism has been recommended by MNRE as a model for other states to reduce the risk of power developers. It was reported that it has also received the World Bank Group President Award for innovation and excellence.
Not only this, but it has also been included in the Prime Minister’s book ‘A Book of Innovation: New Beginnings’. The solar park has been developed by Rewa Ultra Mega Solar Limited (RUMSL), a joint venture company of Madhya Pradesh Urja Vikas Nigam Limited (MPUVN) and Central Public Sector Unit Solar Energy Corporation of India (SECI).
RUMSL has been provided with the central financial assistance of Rs 138 crore for the development of this solar park. After the park was developed, RUMSL selected Mahindra Renewables Private Limited, ACME Jaipur Solar Power Private Limited and Rincon Clean Energy Private Limited through reverse auction to construct three 250 MW solar generating units inside the park.