To ensure viability of its ultra mega solar energy park at Rewa, the Madhya Pradesh government will extend a state guarantee to the flagship project. Billed as the world’s largest contiguous solar park, the project entails an investment of Rs 7,500 crore.
The guarantee would ensure against a default in payment to Rewa Ultra Mega Solar (RUMS), a joint venture of the state’s Urja Vikas Nigam and the Union government’s Solar Energy Corporation of India.
The state Cabinet is likely to approve the guarantee this week. The park is expected to have a capacity of 750 Mw.
Of the power generated, 75 per cent would be procured by Madhya Pradesh Power Management Company (MPPMC) and the other 25 per cent by Delhi Metro Rail Corporation. Power purchase agreements (PPAs) and related deals are to be signed.
So will a Land Use Purchase Agreement for the 1,530 hectares required, of which 90 per cent has been acquired. RUMS will provide 90 per cent of the land within 30 days from the signing of PPAs.
After which the solar power developer’s construction timeline will start. The other tenth of the land will be provided within three months of PPA signing. In a delay beyond 10 months, the unit capacity will be reduced proportionately.Source : http://indianpowersector.com/2016/08/madhya-pradesh-to-provide-state-guarantee-for-750-mw-rewa-ultra-mega-solar-project/?utm_source=feedburner&utm_medium=email&utm_campaign=Feed%3A+powersector+%28Indian+Power+Sector+News+Updates%29
View all SMART GRID Bulletins click here
Enter your email-id to subscribe to theSMARTGRID Bulletins