New Delhi: Prime Minister Narendra Modi on Friday inaugurated Rewa's 750 MW solar project via video conference.
Madhya Pradesh CM Shivraj Singh Chouhan and several union ministers also took part in the event.
"Today, Rewa has really created history. This place has been identified with mother Narmada and white tiger. Now the name of Asia's largest solar power project has also been attached to it," the Prime Minister said during his address at the inauguration of the project.
"With this solar plant at Rewa, the industries here will not only get electricity, but even the metro rail in Delhi will get its benefits. Apart from Rewa, work is underway on solar power plants in Shajapur, Neemuch and Chhatarpur," he added.
He said that the project will be helpful in fulfilling the energy needs of the 21st century.
"Not just for the present, solar energy will be a medium of energy needs of the 21st century because solar power is sure, pure and secure," the PM said.
PM Modi further asserted that Madhya Pradesh might become a hub of cheap of clean electricity once the project is ready.
"When all these projects are ready, Madhya Pradesh will definitely become a hub of cheap and clean electricity. The biggest benefit of this project will be to the poor, middle-class families, farmers and tribals of the state," he said.
The project comprises three solar generating units of 250 MW each located on a 500-hectare plot inside a solar park.
It is the first renewable energy project to supply power to institutional customers outside the state, including Delhi Metro, which will get 24 per cent of energy from the project. The remaining 76 per cent is being supplied to the state distribution companies of Madhya Pradesh.
It also exemplifies India's commitment to attaining the target of gigawatt (GW) of installed renewable energy capacity by the year 2022, including 100 GW of solar installed capacity. It is an example of the excellent results that can be achieved due to synergy between the central and the state governments.
It was the first solar project in the country to break the 'grid parity barrier'.
Compared to solar project tariffs of approximately Rs 4.50 per unit in early 2017, the Rewa project achieved the first-year tariff of Rs 2.97 per unit with a tariff escalation of Rs 0.05 per unit over 15 years and a levelised rate of Rs 3.30 per unit over the term of 25 years.
The Rewa project has been acknowledged in India and abroad for its robust structuring and innovations. Its payment security mechanism for reducing risks to power developers has been recommended as a model to other states by the Ministry of New and Renewable Energy.
It 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 solar park was developed by the Rewa Ultra Mega Solar Ltd (RUMSL), a joint venture of Madhya Pradesh Urja Vikas Nigam Ltd and Solar Energy Corporation of India, a central undertaking, the statement said. Central financial assistance of Rs 138 crore has been provided to RUMSL for development of the park.
After the park was developed, Mahindra Renewables Private Ltd, ACME Jaipur Solar Power Pvt Ltd, and Arinsun Clean Energy Pvt Ltd were selected by RUMSL through a reverse auction for developing three solar generating units of 250 MW each inside the solar park.
Inputs from agencies
