New Delhi :Prime Minister Narendra Modi inaugurated the 750 MW Solar Project set up at Rewa, Madhya Pradesh on Friday (July 10, 2020). The 750 MW plant is Asia’s largest Mega Solar Power Project which comprises of three solar generating units of 250 MW each located on a 500-hectare plot of land situated inside a Solar Park.
The Prime Minister inaugurated the plant via video conferencing and said that it will reduce emission equivalent to approximately 15 lakh tonne of carbon dioxide every year, to the nation through video conferencing.
PM Modi said, ”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: Prime Minister Modi after dedicating to the nation the 750 MW Solar Project set up at Rewa, Madhya Pradesh.”
He added, ”With this solar plant at Rewa, the industries here will not only get electricity, but even the metro rail in Delhi will get its benefits. Apart from Rewa, work is underway on solar power plants in Shajapur, Neemuch and Chhatarpur.”
Congratulating people of Rewa and Madhya Pradesh, PM Modi said, ”This solar plant of Rewa will help in making this entire area a big centre of energy in this decade.”
The Solar Park is a Joint Venture Company between the Rewa Ultra Mega Solar Limited (RUMSL), a Joint Venture Company of Madhya Pradesh UrjaVikas Nigam Limited (MPUVN), and Solar Energy Corporation of India (SECI), a Central Public Sector Undertaking. Central Financial Assistance of Rs. 138 crore has been provided to RUMSL for the 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 approx. Rs. 4.50/unit in early 2017, the Rewa project achieved historic results: the first-year tariff of Rs 2.97/unit with a tariff escalation of Rs. 0.05/unit over 15 years and a levelized rate of Rs 3.30/unit over the term of 25 years. This project will reduce carbon emission equivalent to approximately 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 MNRE. 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”.
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