PM Modi to dedicate 750 MW Solar Project set up at Rewa in Madhya Pradesh to nation tomorrow

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State News

Jul 09, 2020

8:20PM

PM Modi to dedicate 750 MW Solar Project set up at Rewa in Madhya Pradesh to nation tomorrow

Tweeted by @AIR

Prime Minister Narendra Modi will dedicate the 750 MW Solar Project set up at Rewa in Madhya Pradesh to the nation tomorrow.

This Project comprises of three solar generating units of 250 MW 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. 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.

This project will reduce carbon emission equivalent to about 15 lakh ton of CO2 per year.

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 Ministry of New and Renewable Energy.

It has also received 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 remaining 76 percent being supplied to the State DISCOMs of Madhya Pradesh.

The Rewa 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 this function, produced by AIR Rewa, will be broadcast by AIR Delhi on its Indraprastha, FM Gold and AIR Live News 24x7 Youtube channels at 5:20 PM tomorrow.