NTPC and SolarArise win Rewa Ultra Mega Solar’s 450 MW solar project

NTPC Renewables and Talettutayi Solar Projects Nine (SolarArise) were declared winners of the Rewa Ultra Mega Solar Limited’s (RUMSL) auction for 450 megawatts (MW). The RUMSL tender for solar projects to be incorporated at the Shajapur Solar Park in Madhya Pradesh was oversubscribed by 5.8 gigawatts (GW) having received a massive response from bidders.

A total of 15 bidders were shortlisted for the tender. NTPC quoted the lowest tariff of Rs2.33/kilowatt-hour (kWh) in the auction.

NTPC Renewables won a capacity of 105 MW quoting Rs2.35/kWh, and also a capacity of 220 MW quoting Rs2.33/kWh. Talettutayi Solar Projects Nine (SolarArise) won a capacity of 125 MW quoting Rs2.339/kWh.

The tender received overwhelming response as RUMSL projects are well structured and it has Power Grid Corporation as project management consultants for internal evacuation infrastructure, World Bank as the lender, state distribution licensees, and Indian Railways as procurers, International Finance Corporation as transaction advisor.

The total capacity of 450 MW comprises solar projects of 220 MW, 125 MW, and 105 MW capacity at the Shajapur Solar Park in Madhya Pradesh.

RUMSL had tendered 1,500 MW of grid-connected solar projects to be developed across the three solar parks in the state in 2018. However, due to central and state elections, the tenders were delayed.

Later, RUMSL had reissued the tender in January last year. The first tender was for developing 450 MW of grid-connected solar projects at the Shajapur Solar Park. The second tender was for 550 MW of solar projects at the Agar Solar Park, and the third tender was for 500 MW of solar projects at the Neemuch Solar Park. The tender underwent several bid submission deadline extensions after that.

The World Bank will finance the entire 1,500 MW capacity.

RUMSL is a joint venture between the Solar Energy Corporation of India and Madhya Pradesh Urja Vikas Nigam Limited.

The International Bank for Reconstruction and Development will provide technical assistance for the projects through the Indian Renewable Energy Development Agency. The proposed solar parks are in four clusters/districts; cluster 1 (Sagar, Damoh, and Chhattarpur), cluster 2 (Morena), cluster 3 (Ratlam, Neemuch, and Mandsaur), and cluster 4 (Rewa and Satna).

Shampa Bahadur has been a business journalist for more than two decades. She has written for Business India, PTI Media TransAsia and India Infrastructure Publication Ltd among others. She has also written coffee table books. She can be reached at shampa@indoasiancommodities.in

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