Madhya Pradesh has created the lowest solar tariff record with Rs. 2.97 per unit (first year tariff). Delhi Metro will run on low cost power from MP. One of the biggest solar projects in the world is also going to set up in MP at Rewa called Ultra Mega Solar Project of 750 MegaWatt. All thanks to MP Chief Minister Shivraj Singh Chouhan and Indian PM Narendra Modi. MP has levelized tariff/unit across the country from big solar projects –
- No subsidy (Viability Gap Funding): With subsidy (VGF) of Rs. 44.50 lakhs/MW or more
- Saving of Rs. 4,100 crore to M.P.
- Saving of Rs. 100 crore per annum to Delhi Metro
- 1st project supplying to Inter State Open Access Consumer
- Tender participation by 20 foreign & national companies
- IFC – International Finance Corporation: transaction advisor
- Unique structuring: being reviewed for national replication
- Rewa Ultra Mega Solar (RUMS), A joint venture company of MPUVN (M.P. Urja Vikas Nigam Limited) & SECI (Solar Energy Corporation of India)
- With support from MoP, SECI (Solar Energy Corporation of India), MPPMCL (M.P. Power Management Company Limited), Delhi Metro, PGCIL (Power Grid Corporation of India), MP Transco & World Bank
Its an initiative of Ministry of New and Renewable Energy, Government of India and Government of Madhya Pradesh.