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The 750 MW, ₹4000 crore Rewa Ultra Mega Solar Project in Madhya Pradesh will supply 24 per cent of its power to Delhi Metro during the power project lifetime.
After laying the foundation for the solar park, Madhya Pradesh Chief Minister Shivraj Singh Chouhan, in a statement said, “The 750 MW Rewa Solar Park is one of the largest solar parks in the world. The project busted the myth that solar power is expensive by achieving record low tariff of ₹2.97 through competitive bidding.”
RK Singh, Union Minister of Power and New and Renewable Energy, said GoMP through its commitment can fulfill target of 5000 MW of renewable capacity in coming few years.
The project is expected to benefit the State utility by ₹2086 crore and ₹1220 crore to Delhi Metro in entire span of project life. The Model of Rewa Ultra Mega Solar Power Project has been included in PM’s Book of Innovation 2017 and awarded World Bank Group’s President award for Innovation and Excellence.
While IFC is the transaction adviser in the project, The World Bank is funding the internal infrastructure of the project and IREDA has set up the Payment Security Fund. Delhi Metro is the institutional Customer for the project taking 24% of the power.
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