Prime Minister Narendra Modi will today dedicate to the nation a 750 MW Solar project set up at Rewa in Madhya Pradesh. The Rewa project will reduce carbon emission equivalent to about 15 lakh ton of CO2 per year.
The project comprises three solar generating units of 250 megawatt each located on a 500 hectare plot of land situated inside a Solar Park. The Solar Park was developed by the Rewa Ultra Mega Solar Limited (RUMSL).
It is a Joint Venture Company of Madhya Pradesh Urja Vikas Nigam Limited, and Solar Energy Corporation of India, a Central Public Sector Undertaking. Central Financial Assistance of 138 crore rupees has been provided to RUMSL for development of the Park.
The Rewa Solar Project was the first solar project in the country to break the grid parity barrier. Compared to prevailing solar project tariffs of approximately 4.50 rupees per unit in early 2017, the Rewa project achieved historic results. This means a tariff of 2.97 rupees per unit with a tariff escalation of 0.05 paise per unit over 15 years and a levelized rate of 3.30 rupees per unit over the term of 25 years.
The Rewa 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 the Ministry of New and Renewable Energy.
It has also received the World Bank Group President’s Award for innovation and excellence and was included in the Prime Minister’s “A Book of Innovation: New Beginnings”.
The project is also the first renewable energy project to supply to an institutional customer outside the State. The Delhi Metro will get 24 percent of energy from the project with the remaining 76 percent being supplied to the State DISCOMs of Madhya Pradesh.
The Project also exemplifies India’s commitment to attain the target of 175 GW of installed renewable energy capacity by the year 2022, including 100 GW of Solar installed capacity.
A radio report on the event, produced by AIR Rewa, will be broadcast by AIR Delhi on its Indraprastha, FM Gold and AIR Live News 24×7 Youtube channels at 5:20 PM today.
Prime Minister Modi will dedicate the solar project to the nation virtually at 11 am.
Madhya Pradesh Governor Anandiben Patel and Chief Minister Shivraj Singh Chouhan will take part in the programme through video conference. Union Minister RK Singh will also take part in the programme.
AIR correspondent reports, the project comprises three solar generating units of 250 MW each located on a1590-hectare plot inside a solar park. According to the official release, this project will reduce carbon emission equivalent to approximately 15 lakh tonne of CO2 per year.
It is the first renewable energy project to supply institutional customers outside the state, including Delhi Metro, which will get 24 per cent of energy from the project. The remaining 76 per cent is being supplied to the state distribution companies of Madhya Pradesh.
The Rewa project has been acknowledged in India and abroad for its robust structuring and innovations. Its payment security mechanism for reducing risks to power developers has been recommended as a model to other states by the Ministry of New and Renewable Energy.
The solar park was developed by the Rewa Ultra Mega Solar Ltd (RUMSL), a joint venture of Madhya Pradesh Urja Vikas Nigam Ltd and Solar Energy Corporation of India, a central undertaking.