Prime Minister Narendra Modi will inaugurate the 750 MW solar project set up at Rewa, Madhya Pradesh and dedicate it to the nation on Friday.
This project comprises of three solar generating units of 250 MW, each located on a 500 hectare plot of land situated inside a Solar Park (total area 1500 hectare), an official statement said.
The Shivraj Singh Chouhan government has laid special focus on solar power during its tenure. 2 lakh solar pumps will be installed for farmers in the next three years. Farmers are being encouraged to install solar pumps in the state. So far, 14 thousand 250 solar pumps have been installed for farmers under the Chief Minister Solar Pump Scheme.
So far, 30 MW solar roof top plants have been installed in Madhya Pradesh. This year, solar roof tops of 50 MW capacity are proposed to be installed on 700 government buildings of the state. Solar energy is also being promoted for the industrial development of the state. Work on 32 MW solar roof top projects for 400 industrial units is being done at Mandideep near Bhopal.
Madhya Pradesh is in the leading position in solar energy generation in the country. The Rewa Solar Project is included among the world’s largest projects. The 750 MW Rewa Solar Project costing about Rs 4 thousand crore has started production with full capacity. Apart from this, six projects of 5 thousand MW are under construction.
Solar power projects of 5000 MW are under construction in Madhya Pradesh.
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 approximately Rs 4.50/unit in early 2017, the Rewa project achieved historic results: a 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," it said.
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," the statement said.
The project 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”.
The project is also the first renewable energy project to supply to an institutional customer outside the state, i.e. Delhi Metro, which will get 24% of energy from the project with remaining 76% being supplied to the state DISCOMs of Madhya Pradesh.
The Rewa Project also exemplifies India’s commitment to attain the target of 175 GW of installed renewable energy capacity by the year 2022, including 100 GW of solar installed capacity, the statement added.