The Financial Express : Jul 11, 2020, 09:27 AM
Rewa solar power project inauguration by PM Modi: Prime Minister Narendra Modi has today dedicated Asia’s largest solar power project, the Rewa solar power project in Madhya Pradesh, to the nation. The new 750 MW Solar Power plant Project has been set up at Rewa, in the state of Madhya Pradesh. PM Modi inaugurated the solar power project by video conferencing. Stating that India is among the top 5 nations in the world in terms of solar energy, PM Modi added that solar energy is the medium of energy for the 21st century. According to the Ministry of Information and Broadcasting, this Solar Power project in Rewa consists of three solar power generating units, each having a capacity of 250 MW and each located on a 500 hectare plot of land, which is situated inside a Solar Park. Here are 10 interesting facts about the solar power project:1) The Solar Park has been developed over a total area of 1500 hectares, by the Rewa Ultra Mega Solar Limited (RUMSL). RUMSL is a Joint Venture of Solar Energy Corporation of India (SECI) and Madhya Pradesh UrjaVikas Nigam Limited (MPUVN).2) An amount of Rs 138 crore has been provided by the Centre to RUMSL for the development of the Solar Park.3) After the development of the Solar Park, RUMSL selected ACME Jaipur Solar Power Private Limited, Mahindra Renewables Private Limited, and Arinsun Clean Energy Private Limited, through reverse auction for developing three solar generating units inside the Solar Park.4) It is India’s first such solar project to break the grid parity barrier. In comparison to the tariffs of prevailing solar project in early 2017 of around Rs 4.50 per unit, the Solar project in Rewa achieved the first year tariff of Rs 2.97 per unit. Moreover, it showed a tariff escalation of Rs 0.05 per unit over the period 15 years and a levelized rate of Rs 3.30 per unit over a period of 25 years.5) The Rewa Solar Power project is expected to reduce carbon emission equivalent to around 15 lakh tons of CO2 per year.6) It exemplifies the commitment of the nation to achieve the 175 GW target of installed renewable energy capacity by 2022. This includes 100 GW of solar installed capacity.7) In India as well as abroad, it has been acknowledged for its robust project structuring and innovations. The Ministry of New and Renewable Energy has recommended other states its payment security mechanism for reducing risks to power developers, as a model.8) It is also the first renewable energy project to supply energy to an institutional customer outside the state. From the project, the Delhi Metro will get 24 per cent of energy, while the remaining 76 per cent of energy being supplied to the state DISCOMs of Madhya Pradesh.9) For its innovation and excellence, the Rewa Solar Power project has received the World Bank Group President’s Award.10) The project was also included in the PM’s “A Book of Innovation: New Beginnings”.