<span style="color: #222222;">Prime Minister Narendra Modi will dedicate the 750 MW Solar Project set up at Rewa in Madhya Pradesh to the nation tomorrow.</span><br />'' <span style="color: #222222;"> </span><br />'' <span style="color: #222222;">This Project comprises of three solar generating units of 250 MW each located on a 500 hectare plot of land situated inside a Solar Park.</span><br />'' <span style="color: #222222;"> </span><br />'' <span style="color: #222222;">The Solar Park was developed by the Rewa Ultra Mega Solar Limited. It is a Joint Venture Company of Madhya Pradesh Urja Vikas Nigam Limited, and Solar Energy Corporation of India, a Central Public Sector Undertaking. </span><br />'' <span style="color: #222222;"> </span><br />'' <span style="color: #222222;">Central Financial Assistance of 138 crore rupees has been provided to RUMSL for development of the Park.</span><br />'' <span style="color: #222222;"> </span><br />'' <span style="color: #222222;">The Rewa Solar Project was the first solar project in the country to break the grid parity barrier.</span><br />'' <span style="color: #222222;"> </span><br />'' <span style="color: #222222;">Compared to prevailing solar project tariffs of approximately 4.50 rupees per unit in early 2017, the Rewa project achieved historic results.</span><br />'' <span style="color: #222222;"> </span><br />'' <span style="color: #222222;">This means a tariff of 2.97 rupees per unit with a tariff escalation of 0.05 paise per unit over 15 years and a levelized rate of 3.30 rupees per unit over the term of 25 years. </span><br />'' <span style="color: #222222;"> </span><br />'' <span style="color: #222222;">This project will reduce carbon emission equivalent to about 15 lakh ton of CO2 per year.</span><br />'' <span style="color: #222222;"> </span><br />'' <span style="color: #222222;">The Rewa Project has been acknowledged in India and abroad for its robust project structuring and innovations.</span><br />'' <span style="color: #222222;"> </span><br />'' <span style="color: #222222;">Its payment security mechanism for reducing risks to power developers has been recommended as a model to other States by Ministry of New and Renewable Energy. </span><br />'' <span style="color: #222222;"> </span><br />'' <span style="color: #222222;">It has also received World Bank Group President's Award for innovation and excellence and was included in the Prime Minister's "A Book of Innovation: New Beginnings". </span><br />'' <span style="color: #222222;"> </span><br />'' <span style="color: #222222;">The project is also the first renewable energy project to supply to an institutional customer outside the State.</span><br />'' <span style="color: #222222;"> </span><br />'' <span style="color: #222222;">The Delhi Metro will get 24 percent of energy from the project with remaining 76 percent being supplied to the State DISCOMs of Madhya Pradesh.</span><br />'' <span style="color: #222222;"> </span><br />'' <span style="color: #222222;">The Rewa Project also exemplifies India's commitment to attain the target of 175 GW of installed renewable energy capacity by the year 2022, including 100 GW of Solar installed capacity.</span><br />'' <span style="color: #222222;"> </span><br />'' <span style="color: #222222;">A radio report on this function, produced by AIR Rewa, will be broadcast by AIR Delhi on its Indraprastha, FM Gold and AIR Live News 24×7 Youtube channels at 5:20 PM tomorrow. </span><br />''