The solar power projects tendered by Rewa Solar offers a four-tier guaranteed security to the developers of the photovoltaic (PV) capacities
Madhya Pradesh’s Rewa Ultra Mega Solar Limited (RUMS) has issued a 1500 MW solar power project to be built in the state’s solar parks in Neemuch, Agar and Shajapur. The capacity will be spread across the three solar parks in the state.
A 550, 500 and 450 MW solar photovoltaic capacities have been fixed for the Agar, Neemuch and Shajapur solar parks respectively. RUMS has tendered the projects in three different notices and has set the deadline as December 10, 2018. The three solar parks will be maintained by Rewa Ultra Mega Solar Limited itself. The organisation has informed that the bids could not be bagged by a single bidder. To do so, RUMS said, would require the bidder to fulfil a set of separate criteria altogether.
Rewa Ultra Mega Solar Limited is jointly owned by the Madhya Pradesh government and Solar Energy Corporation of India (SECI). The three solar power projects are yet another set of steps towards India’s 100 GW solar dream by 2020.
The Rewa solar park auction process was reported as the starting of the declining solar tariffs in India. The reasons were the availability of cheap funds and payment security mechanisms, which were in favour of developers. It had also introduced a guaranteed four-tier security to ensure payment to developers in case of delay.