On the evening of 10th February 2017 (Friday), India achieved new lows of grid-connected solar tariff rates. Madhya Pradesh Government owned Rewa Ultra Mega Solar Limited (RUMS) registered historical 2.97 Rs/unit bidding for its 750 MW solar park project. The Solar Park project is situated in the land of white tigers, Rewa district, Madhya Pradesh. Solar Energy Corporation of India (SECI) has 50% partnership in RUMS.
In order to reduce country’s oil imports by 10% by 2030 and to fulfil the ever-increasing electricity needs, Modi government has boosted renewable sector through various policies. The lowest bidding is the achievement of the efforts taken by government in last two and half years. Minister of State with Independent Charge for Power, Coal, New and Renewable Energy, Piyush Goyal tweeted about the bidding.
India marches on towards realising the clean energy vision of PM @narendramodi. First year solar tariff bids at record low of Rs. 2.97/unit.
— Piyush Goyal (@PiyushGoyal) February 10, 2017
At present, government-run NTPC provides electricity at 3 Rs/unit rate though its coal operated generating plants. I ncase of renewable energy generation, Amplus energy has promised to give solar power at the rate of 3 Rs/unit under rooftop-generation. Solar parks have altogether different business model than that of rooftop solar systems.
- The bidding started with 20 strong solar players including Adani, SBG, Shapoorji Pallonji Infrastructure, Cleantech, ReNew Power, Torrent, Aditya Birla groups, etc.
- REWA Solar Park project is funded by World Bank. Total 3 units of 250MW each are required to be installed at the site.
- Out of 750 MWp generated power, 80% will be given to Madhya Pradesh Power Management Corporation Ltd (MPPMCL) and remaining 20% will be given to Delhi Metro Rail Corporatoin (DMRC) on 25 years contract.
- Whole project is aimed to be completed within 18 months. However, the actual power generation is expected to start from September 2017.
- In actual, 3 different bidders grabbed the contract. Mahindra group recorded 2.979 Rs/unit for the first unit. ACME recorded 2.97 Rs/unit for second unit and Solenergi signed the deal at 2.974 Rs/unit.
|
Unit (250MWp each) |
Tariff (Rs/unit) | Bidder |
|
1 |
2.979 |
Mahindra group |
|
2 |
2.97 |
ACME |
| 3 | 2.974 |
Solenergi |
With this achievement, Rewa Solar Power plant has become not only largest but also cheapest solar park in the world.
Did you know?
Last bidding round of RUMS ran for 33 hours and ended on 10th Feb 2017, Friday evening with historical tariff prices.
