MP solar project to light cheap power
Madhya Pradesh is likely to produce the cheapest solar power in world at the World’s Biggest Solar Power Project coming up in Rewa.After completion of nearly all formalities and inking pack with Delhi Metro Rail Corporation (DMRC) that will be the biggest buyer, Rewa Ultra Mega Power Limited (RUMPL) – a joint venture between Solar Energy Corporation of India (SECL) and Madhya Pradesh Urja Vikas Nigam (MPUVN) – is likely to float tenders in a week’s time.”We are trying to ensure that cheapest solar power is produced here. In a bid to ensure lowest tariff, the auction will be in two rounds – lowest tariff quoted in first round will be rate at which final auction will begin,” principal secretary, renewable energy, Manu Shrivastav told TOI.Till date, Rajasthan government had inked a pact to produce cheapest solar power at just Rs 4.34 per unit. Earlier, Madhya Pradesh Power Management Company had signed the cheapest solar power producing agreement at close to Rs 5 per unit.Officials feel rate may go below existing lowest prices at Rewa’s solar power project.”There are several factors which will draw developers to Rewa Ultra Mega Power Project (UMPP),” Shrivastav said.He said land will be offered to developer on the day of signing of power purchase agreement (PPA) Rewa project.”There are attractive loans from World Bank. Clean Technology Fund’s loan comes with an interest of just 0.25% per annum for developers,” he said.