The 750 MW Rewa Solar Power Project in Madhya Pradesh, which is to supply power to the Delhi Metro, started operations from Friday, according to an announcement by the state-run Madhya Pradesh Urja Vikas Nigam Ltd (MPUVNL) -- and one of the biggest beneficiaries will be the Delhi Metro.
A statement issued here said the plant, spread over 1,590 acres and being operated by Rewa Ultra Mega Solar Ltd, "is among the largest single-site solar power plants in the world".
"This is the first project in the country supplying power to an inter-state open access customer -- Delhi Metro. This opens up an entirely new chapter in utilisation of renewable energy in the country, where large institutional open access consumers can start procuring it inexpensively," it said.
"State discoms will get 76 per cent of the power produced from the Rewa solar plant, while the Delhi Metro Rail Corporation (DMRC) will benefit from the remaining 24 per cent. The project is estimated to meet up to 90 per cent of the day electricity demand from DMRC.
"The commissioning of this project will potentially result in a saving of Rs 4,600 crore to state discoms and Rs 1,400 crore to Delhi Metro over its project life," it added.
Commenting on the development, Madhya Pradesh Chief Minister Shivraj Singh Chouhan said: "The bidding for the project was conducted online for as long as the bidders were interested -- 33 hours without stop. The project made possible an investment of over Rs 4,000 crore in the state."
According to MPUVNL, the project would lead to avoiding 15.4 lakh tonnes of carbon dioxide generation every year.
"The Rewa solar plant is India's first and till now the only solar project to get funding from the Clean Technology Fund available at a rate of 0.25 per cent for a 40-year period. It is also the first and the only solar park in India to get a concessional loan from the World Bank," it said.
The project is being developed by Mahindra Renewables, ACME Solar Holdings and Solengeri Power, who emerged as bid winners for the three project units.
(This story has not been edited by Business Standard staff and is auto-generated from a syndicated feed.)