Rewa Solar Plant: PM Modi inaugurates 750 MW Rewa solar project: Key points | India Business News


Prime Minister Narendra Modi during the solar project launch via video-conferencing. (File photo: ANI)

NEW DELHI: Prime Minister Narendra Modi on Friday inaugurated the 750 MW (megawatt) solar project set up at Madhya Pradesh’s Rewa via video-conferencing. The project comprises three solar generating units — 250 MW each — located on a 500-hectare plot inside a solar park.
Here are the key points:
* Rewa has created history by creating Asia’s largest solar power project: PM Modi
* With this solar plant at Rewa, the industries here will not only get electricity, but even Delhi Metro will get its benefits. Apart from Rewa, work is underway on solar power plants in Shajapur, Neemuch and Chhatarpur: PM Modi
* Not just for the present, solar energy will be a medium of energy needs of the 21st century because solar power is sure, pure and secure: PM Modi
* With efforts and contributions in the solar energy sector, India is seen as the most attractive market for clean energy: PM Modi
* The idea behind ‘One World, One Sun, One Grid’ is to fulfill the energy needs of many smaller nations on the planet: PM Modi
* During the launch, Madhya Pradesh chief minister Shivraj Singh Chouhan called the Prime Minister ‘man of ideas’ for his inputs in the Rewa solar project.
* The project is aimed at reducing carbon emission equivalent to approximately 15 lakh tonnes of CO2 per year, according to a PMO (Prime Minister’s office) statement.
* It is the first renewable energy project to supply to 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.
* It also exemplifies India’s commitment to attaining the target of gigawatt (GW) of installed renewable energy capacity by the year 2022, including 100 GW of solar installed capacity, the PMO statement noted.
* This is apparently the first solar project in the country to break the “grid parity barrier”.
* Compared to solar project tariffs of approximately Rs 4.50 per unit in early 2017, the Rewa project achieved the first-year tariff of Rs 2.97 per unit with a tariff escalation of Rs 0.05 per unit over 15 years and a levelised rate of Rs 3.30 per unit over the term of 25 years, the PMO statement explained.
* 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, it added.
* 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.
* Central financial assistance of Rs 138 crore has been provided to RUMSL for development of the park.
* After the park was developed, Mahindra Renewables Private Ltd, ACME Jaipur Solar Power Pvt Ltd, and Arinsun Clean Energy Pvt Ltd were selected by RUMSL through reverse auction for developing three solar generating units of 250 MW each inside the solar park.
(With PTI inputs)



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