Prime Minister Narendra Modi on July 10, 2020 dedicated Rewa Ultra Mega Solar Power project to the nation. PM Modi himself counted the benefits of this solar project. He described that the solar power is the suitable medium for 21st century’s power needs as it is “pure, sure, and secure.”
The Key Points About the Project
Here are the things you need to know about Rewa Ultra Mega Solar Power project.
- It is 750 Mega Watt Solar Project, Asia’s largest single-site solar power plant in India, with Solar Park spread across 1,500 hectares
- Delhi Metro will get 24% of the power produced from the Rewa Solar Power plant and would cater to almost 90% of its day requirements.
- Broke the benchmark of grid parity in 2017 at the time of the project structuring with a levelized tariff of ₹3.3/unit over 25 years period.
- Rewa project will reduce carbon emission equivalent to approx. 15 lakh ton of CO2 per year.
- It 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.
How It Reduced the Tariff
The Rewa Solar Project is credited with breaking the grid parity barrier in the country. Compared to prevailing solar project tariffs of approx. ₹4.50/unit in early 2017, the Rewa project achieved historic results: a first-year tariff of ₹2.97/unit with a tariff escalation of ₹0.05/unit over 15 years and a levelized rate of ₹3.30/unit over the term of 25 years.
Setting A Model
Rewa Ultra Mega Solar Power project has set the example for future solar projects. Its payment security mechanism for reducing risks to power developers has been recommended as a model to other States by Ministry of New and Renewable Energy. It has also received World Bank Group President’s Award for innovation and excellence. The project is also the first renewable energy project to supply to an institutional customer outside the State, with the Delhi Metro Rail Corporation (DMRC) buying power from it to run its train operations in Delhi.
After the Park had been developed, Mahindra Renewables Private Ltd., ACME Jaipur Solar Power Private Ltd., and Arinsun Clean Energy Private Ltd were selected by RUMSL through reverse bid auction for developing three solar generating units of 250 MW each inside the Solar Park.
While dedicating this historic project to the world, Prime Minister Narendra Modi said that the benefit of the project will be for farmers, common people, and Adivasi people of the state. He also highlighted how India in its pursuit of clean energy also made the farmers a power producer as they can set up solar panels in their barren land and trade the power.
Shedding light on the road ahead, PM Modi said that the fullest potential of India in solar energy will be realised when we are able to produce better solar panels, batteries, and qualitative storage facility. He said, now the actions have been taken to achieve progress in this direction.