Prime Minister Narendra Modi today inaugurated the 750-Megawatt (Mw) ultra mega solar power park in Rewa, Madhya Pradesh, which is touted as Asia’s largest solar power project. The facility was commissioned in January 2020 and will supply power to Madhya Pradesh and Delhi Metro Rail Corporation (DMRC).
The project was bid out in 2017 when three companies – Mahindra Renewables, ACME Solar and Sprng Energy -- won 250 Mw each. The winning tariff was Rs 2.97-2.98 a unit in the first year and Rs 3.32 over 25 years of contract. The tariff discovered then was the first time that the cost of solar power went below that of thermal in India. The total project cost is Rs 4,305 crore.
The project is built over an area of 1,550 hectares.
One reason for the Rewa park receiving low bids is that the Madhya Pradesh state government had provided assurances on power offtake and offered a sovereign guarantee in case of purchase default.
Speaking at the virtual conference, Modi said the Rewa project will make the entire region a major hub for pure and clean energy in this decade. “Solar Energy projects are a true representation of Aatmanirbhar Bharat (Self-Reliant India). Economy is an important aspect of self-reliance and progress. India has resolved the dilemma between ecology and economy by focussing on solar energy projects,” the PM said.
He added that India has made an exemplary progress in the field of solar energy and owing to such major steps, the country is now considered as the most attractive market of clean energy.
The PM also called upon the domestic industry to drive the growth of solar power in India through indigenous goods and equipment. “India is reducing its dependence on imports of equipment needed for solar plants, such as photovoltaic cells, battery technology etc. I want to encourage the industry, the youth, MSMEs and Start-ups to not miss this opportunity and work for production and betterment of all the inputs required for solar energy,” he said.
All units of Rewa project became operational in January this year. DMRC has been sourcing power from the project since 2019 to meet its daytime energy requirements. It will source 24 per cent of the total energy produced from the park, rest will be consumed by the