Prime Minister Narendra Modi on Friday devoted to the nation the 750 MW Solar Project arrange at Rewa, Madhya Pradesh. The undertaking, comprising of three photo voltaic producing models of 250 MW every positioned on a 500-hectare plot of land located inside a Solar Park (complete space 1500 hectare), was initially arrange on July 10, 2020.
The Solar Park was developed by the Rewa Ultra Mega Solar Limited (RUMSL), a Joint Venture Company of Madhya Pradesh UrjaVikas Nigam Limited (MPUVN), and Solar Energy Corporation of India (SECI), a Central Public Sector Undertaking.
Central Financial Assistance of Rs. 138 crore has been supplied to RUMSL for growth of the Park. After the Park had been developed, Mahindra Renewables Private Ltd., ACME Jaipur Solar Power Private Ltd., and Arinsun Clean Energy Private Ltd had been chosen by RUMSL by way of a reverse public sale for growing three photo voltaic producing models of 250 MW every contained in the Solar Park.
Rewa Solar Project is an instance of the wonderful outcomes that may be achieved if there’s a synergy between Central and State Governments.
Delhi: Prime Minister Narendra Modi to dedicate to the nation the 750 MW Solar Project arrange at Rewa, Madhya Pradesh, by way of video conferencing.
— ANI (@ANI) July 10, 2020
The Rewa Solar Project was the primary photo voltaic undertaking within the nation to break the grid parity barrier.
Compared to prevailing photo voltaic undertaking tariffs of approx. Rs. 4.50/unit in early 2017, the Rewa undertaking achieved historic outcomes: a first-year tariff of Rs. 2.97/unit with a tariff escalation of Rs. 0.05/unit over 15 years and a levelized fee of Rs. 3.30/unit over the time period of 25 years. This undertaking will cut back carbon emission equal to approx. 15 lakh ton of CO2 per yr.
The Rewa undertaking has been acknowledged in India and overseas for its strong undertaking structuring and improvements.
Its fee safety mechanism for decreasing dangers to energy builders has been advisable as a mannequin to different States by MNRE.
It has additionally acquired World Bank Group President’s Award for innovation and excellence and was included within the e-book “A Book of Innovation: New Beginnings” launched by Prime Minister.
The undertaking can be the primary renewable power undertaking to provide to an institutional buyer exterior the State, i.e. Delhi Metro, which can get 24% of power from the undertaking with remaining 76% being provided to the State DISCOMs of Madhya Pradesh.
The Rewa Project additionally exemplifies India’s dedication to attaining the goal of 175 GW of put in renewable power capability by the yr 2022, together with 100 GW of photo voltaic put in capability.