Little-known solar firm gains traction, unseats NTPC in Madhya Pradesh

MP govt cancels PSA signed after record low bids in two solar parks

Rewa Ultra Mega Solar (RUMSL), a Madhya Pradesh (MP) and central government joint venture, is in a unique spot. It has unseated NTPC, a central government company, for supply of a mere 200 megawatt (Mw) of solar power to the MP government after it recently concluded a bidding round. 

This has led to the state deciding last week not to proceed with a power sale agreement (PSA) signed with NTPC on April 30. The twist in the tale is that the RUMSL auction that led to this situation has NTPC Renewable Energy, a subsidiary of NTPC, as one of its winning