Prime Minister Narendra Modi today inaugurated the 750-Megawatt (Mw) ultra mega sola
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.