- Rewa Ultra Mega Solar Power Project developed with support of World Bank Group support has come online in India
- The three projects of 250 MW each in Madhya Pradesh’s Rewa region have been developed by ACME Solar, Solenergi Power and Mahindra Renewables
- Over its lifetime, the 750 MW project is expected to help save more than $33 billion for state discoms and DMRC
The much awaited 750 MW Rewa Ultra Mega Solar Power project (RUMS) in India’s Madhya Pradesh has been switched on. The project is backed by financial support from the International Finance Corporation (IFC).
The parent of IFC, the World Bank has also provided $100 million to finance the project with $25 million being used for transmission infrastructure development (see World Bank Loan For Rewa Solar Project).
The park has been developed by a joint venture between Solar Energy Corporation of India (SECI) and Madhya Pradesh Urja Vikas Nigam Limited (MPUVNL). SECI had awarded this capacity in the form of three units of 250 MW each to ACME Solar, Solenergi Power and Mahindra Renewables in February 2017. At the time, record low tariffs of 2.97 INR ($0.0444) per kWh were achieved for this auction (see Record Low Tariff Of 2.97 INR/kWh In India).
Power generated by this project will be purchased by Madhya Pradesh Power Management Company Limited (MPPMCL) and the Delhi Metro Rail Corporation (DMRC).
The Facebook account of RUMS outlines that this project will help state discoms save 20.86 billion INR ($303.5 million) while DMRC is expected to save 12.2 billion INR ($177.5 million) over the lifetime of the project.