Rewa, the Largest Solar Power Plant in India| UPSC

In 2020, the PM of India has inaugurated a 750 MW (MegaWatt) solar project in Rewa, Madhya Pradesh.

Rewa Solar Power Plant

It is one of Asia’s largest solar power projects comprising three solar generating units of 250 MW each located on 500 hectares of land thus a total area of 1500 hectares.

Features

 It is the first renewable energy project to supply a customer outside the state, i.e. Delhi Metro, which will get 24% of energy from the project and the remaining 76% being supplied to the state of Madhya Pradesh.

It is India’s first solar project to get funding from the Clean Technology Fund (CTF), which is available at the rate of 0.25%  for a 40-year period from the World Bank. The CTF promotes the low carbon technologies by financing them to shift there.

This project of Rewa will reduce carbon emission to approx. 15 lakh tons of CO2 per year.

It is the first solar project in India to break the “grid parity barrier”.

Grid parity

Grid parity occurs when the energy source can generate power at a cost of electricity less than or equal to the price of power from the electricity grid.
Previously, the cost of electricity through solar power was more than the electricity grid but now it is cheaper than the electricity grid.

Investment

The total investment on the project was Rs4500 crores. It gets funding from the Clean Technology Fund (CTF).

Clean Technology Fund (CTF): It provide funding, through public and private sector investments, for the promotion of low carbon development and mitigation of greenhouse gas emissions.
CTF expects to reduce nearly 70 million tons of greenhouse gas emissions per year. It has financial inputs of about USD 5.4 billion received through contributions by donors from Australia, Canada, Germany, France, Spain, Sweden, Japan, the United Kingdom, and the United States.
The World Bank is the trustee of CIF.

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