India among top five nations in solar energy: PM Modi

India has emerged as the most attractive global market for clean energy, he said during the launch of a 750 MW solar project at Rewa in Madhya Pradesh through video conferencing on Friday.

Prime Minister Narendra Modi on Friday said that India is among the top five nations in solar energy. India has emerged as the most attractive global market for clean energy, he said during the launch of a 750 MW solar project at Rewa in Madhya Pradesh through video conferencing on Friday.

Madhya Pradesh will emerge as a major hub for clean and cheap power in India, the prime minister said, adding that solar energy is sure, pure and secure. He said Delhi Metro will get power from the Rewa solar project.

The Rewa solar project comprises three solar generating units of 250 MW each located on a 500 hectare plot of land situated inside a Solar Park (total area 1500 hectare). The Solar Park was developed by the Rewa Ultra Mega Solar Limited (RUMSL), a Joint Venture Company of Madhya Pradesh UrjaVikas Nigam Limited (MPUVN), and Solar Energy Corporation of India (SECI), a Central Public Sector Undertaking.

The Rewa Solar Project was the first solar project in the country to break the grid parity barrier. Compared to prevailing solar project tariffs of approximately Rs. 4.50/unit in early 2017, the Rewa project achieved historic results: a first year tariff of Rs. 2.97/unit with a tariff escalation of Rs. 0.05/unit over 15 years and a levelized rate of Rs. 3.30/unit over the term of 25 years. It is expected to reduce carbon emission equivalent to approximately 15 lakh ton of CO2 per year.

First Published: July 10, 2020, 1:01 p.m.