Madhya Pradesh Power Management Company Limited (MPPM), Delhi Metro Rail Corporation (DMRC) and International Finance Corporation (IFC) have announced a tender for a 3 x 250 MW solar (related to electricity controlled by light) (PV) project in Rewa, Madhya Pradesh, BRIDGE TO INDIA (New Delhi) reports.
MPPM, is the holding company for all power distribution companies in Madhya Pradesh. It will purchase most of the solar power generated from the proposed project, and DMRC will obtain 363 million kWh every year, equal to 210 MW, from this project through the route of open access.
BRIDGE TO INDIA reports that this project announces the importance and economic feasibility of electricity generated from sunlight and it is the largest long-term purchase of open access solar generated power.
Another project – Rewa, which is a 750MW project under development for 2 years, was original to be developed by the SECI and funded through subsidized financing from the World Bank, with part funding from private developers, gaining minority shareholding. The project, however, has been completely revamped and re-done given the difficulties of receiving funding from the World Bank and the lack of enthusiasm from the private players, owing to minority shareholding.
The project is now a joined effort between SECI and the MP Urja Vikas Nigam Limited (MPUVN), which will provide the necessary infrastructure and basic equipment required for the completion of the project. The World Bank will most likely provide financing for the internal sub-stations and transmission lines. The tender notice provides 18 months for the commissioning of the project post signing of the PPAs and if all goes well, the PPAs could be signed off by December this year (2016) and the projects could be commissioned by the middle of the year 2018.