PM Modi to inaugurate Asia’s largest 750-MW Rewa solar plant this week: All you need to know

New Delhi: Prime Minister Narendra Modi is set to inaugurate Asia’s largest 750-megawatt (MW) Rewa ultra-mega solar power project in Madhya Pradesh on 10 July.

Rewa Ultra Mega Solar Ltd, a joint venture of Madhya Pradesh Urja Vikas Ltd and SECI, is the implementation agency for the project under MNRE. The ministry had approved the project under its solar park scheme and allocated a fund of Rs 12 lakh per MW.

What makes this project so different from the rest?

It is one of the largest single-site solar power plants in India and the world developed on 1,590 hectare of land in Gurh tehsil of Rewa district.

The project will have three units of 250 MW each.

Mahindra Renewables, ACME Solar Holdings, and Solengeri Power emerged as the winners for the project’s three units at tariffs of Rs 2.979, Rs 2.970, and Rs 2.974, respectively, for the first year.

International Finance Corporation (IFC), part of World Bank group, has invested close to $440 million or Rs 2,800 crore in the project.

The project would lead to avoiding 15.4 lakh tonnes of carbon dioxide generation every year.

Power Grid Corporation of India has developed the 220/400 KV inter-state transmission system under green corridor to facilitate evacuation of power from the project site to consumers.

The project includes 3 X 33/220 KV pooling sub-stations constructed through a World Bank loan for evacuation of power.

A project of many firsts in India

It is the first such solar project in India which consists of different categories of offtakers — MPPMCL and discoms being the licensed utilities and DMRC being an open access consumer.

It is also the first project to get funding from The World Bank and Clean Technology Fund in India. With this, The World Bank has funded its first solar park in the country.

The process of reverse auction in bidding for projects was tried for first time in India under this project.

It comprises three-tier payment security mechanism, another first in India.

Who will be the power buyers?

It has two offtakers, Madhya Pradesh Power Management Company Limited (MPPMCL) and Delhi Metro Rail Corporation (DMRC).

MPPMCL is the holding company of the three discoms in the state and is responsible for the bulk power purchase of the three discoms. MPPMCL will be getting 76 per cent of the power produced from the plant.

DMRC will get 24 per cent of the power produced and would cater to almost 90 per cent of its day requirements.

Source: ET Energy