A total of 20 bidders have shown interest in the 750 MW Rewa Ultra Mega Solar Energy Park in India. The capacity offered by these companies is '10 times the required capacity of 750 MW', according to a report published in the Business Standard, a local daily.
The project capacity has been divided into three units of 250 MW each. But, local media reports say that some companies, like SoftBank backed SBG Cleantech, ReNew Power, Enel Green Power and Rosepetal Solar of Adani Group have bid for the entire capacity. Other bidders as Hero Future Energies (HFE) and Mahindra Renewables have each bid for 500 MW capacity. Remaining companies have offered to develop 250 MW each.
The capacity was tendered in April 2016, for which the state government of Madhya Pradesh had extended a state guarantee (see 750 MW 'Ultra-Mega' Solar Project In India).
This project enjoys support from the International Finance Corporation (IFC) and is estimated to need an investment of $1.12 billion. Clean power generated from this project will be sold to Delhi Metro Rail Corporation (DMRC), along with Madhya Pradesh Power Management Company Limited (MPPMCL).
According to Bridge to India, this tender may see solar tariffs going below 4.00 INR ($0.059) per kWh (see Record Low Tariff Expected For Rewa Solar Project).
Manu Srivastava, chairperson, RUMS and principal secretary, New and Renewable Energy, Madhya Pradesh, was quoted by Business Standard as saying, "To prevent tariffs from opening too high, bidders quoting top two initial tariffs would not be allowed to bid."
The project assumes importance, as once ready, it is supposed to become the largest single site solar power project in India, overtaking the 648 MW Kamuthi Solar Power Project.