The park was developed by Rewa Ultra Mega Solar Limited (RUMSL) with central financial assistance of Rs 138 crore. RUMSL is a joint venture company of Madhya Pradesh Urja Vikas Nigam Limited and Solar Energy Corporation of India (SECI).
The park—spread over 1500 hectares—houses three solar generating units of 250 MW each on 500-hectare plots. The project units were developed by Mahindra Renewables, ACME Solar Holdings and Arinsun Clean Energy, which emerged as the winners in a reverse auction by RUMSL.
The Rewa solar power project was commissioned with Rs 4305-crore investment, and is the first solar project in the country to break the grid parity barrier. Compared to prevailing solar project tariffs of around Rs 4.50/kWh in early 2017, the Rewa project achieved historic results: the first-year tariff of Rs 2.97/kWh with a tariff escalation of Rs 0.05/kWh over 15 years and a levelized rate of Rs 3.30/kWh over the term of 25 years.
The project is also India’s first renewable energy project to supply to an institutional customer outside the State: Delhi Metro Rail Corporation (DMRC) will get 24% of energy from the project, with the remaining 76% being supplied to the State DISCOMs of Madhya Pradesh.
In terms of environmental impact, the project would avoid 15 lakh tonnes of carbon dioxide emissions every year.