PM Modi to Devote 750 MW Rewa Solar Project to the Country

• PM Narendra Modi will certainly dedicate to the country the 750 MW Solar Project established at Rewa, Madhya Pradesh on July 10, 2020.

Prime Minister Narendra Modi will certainly dedicate to the country the 750 MW Solar Project set up at Rewa, Madhya Pradesh on July 10, 2020. The Rewa Ultra Mega Solar Park in Madhya Pradesh comprises of 3 solar creating systems of 250 MW each located on a 500-hectare story of land positioned inside a Solar Park (overall area 1500 hectare).

The Solar Park was established by the Rewa Ultra Mega Solar Limited (RUMSL), a Joint Venture business of Madhya Pradesh UrjaVikas Nigam Limited (MPUVNL), as well as the Solar Energy Corporation of India (SECI). A Central Financial Assistance (CFA) of Rs 138 crore has actually been supplied to RUMSL for the growth of the park.

Mahindra Renewables, ACME Jaipur Solar an SPV of ACME Solar, and also Arinsun Clean Energy were picked by RUMSL through an e-reverse auction for creating the three solar creating devices of 250 MW each inside the solar park.

The projects built in the park were the really first in the nation to damage the grid parity barrier. Compared to prevailing solar project tariffs of roughly Rs. 4.50/ unit in early 2017, the projects achieved historic outcomes: first-year tariff of Rs. 2.97/ device with a toll escalation of Rs. 0.05/ unit over 15 years as well as a levelised price of Rs. 3.30/ system over the regard to 25 years.

The three projects are anticipated to reduce carbon discharge equal to about 15 lakh tonnes of CO2 per year.

The project has actually been recognized in India and also abroad for its robust project structuring and advancements. Its payment safety mechanism for decreasing dangers to power designers has been recommended as a model to other states by MNRE. It has additionally received the World Bank Group President's Award for innovation and also quality.

The project is additionally the very first renewable energy project to provide to an institutional customer outside the State, i.e. Delhi Metro, which will obtain 24 percent of power from the project with the remaining 76 percent being provided to the state Discoms of Madhya Pradesh.

According to a press statement, the solar park exhibits India's dedication to obtaining the target of 175 GW of set up renewable resource capacity by the year 2022, consisting of 100 GW of solar set up ability.