NEW DELHI: Amp Energy India has signed a power purchase agreement (PPA), with Rewa Ultra Mega Solar Ltd (RUMSL) in Madhya Pradesh, for 100MW/140MWp capacity.
RUMSL is a joint venture of Solar Energy Corporation of India and Madhya Pradesh Urja Vikas Nigam Ltd. It has been designated as a Solar Power Park Developer by the ministry of new and renewable energy.
RUMSL is planning a 600 MW floating solar park at the Omkareshwar Reservoir. The project will be developed in a phase-wise manner, with 300 MW each to be developed in Phase 1 and Phase 2 at pre-identified locations at the Omkareshwar reservoir.
Pinaki Bhattacharyya, Managing Director, and CEO, Amp Energy India, said, “This is one of the largest floating solar projects by an IPP in India. Floating solar projects can be a great alternative to this and help mitigate developmental risks. We believe that floating solar projects can play an important role in achieving India’s renewable energy targets given the quantum and magnitude of water reservoirs in the country”
The project is under BOOT (build, own, operate, transfer) model for a fixed tariff of 25 years, and will generate about 198 million units per year.
Sanjay Dubey, Chairperson, RUMSL, said: “This project will not only utilise the latest technology to generate renewable energy but also benefit from the inherent advantages of floating solar viz. efficient operations due to lower temperature coefficient and avoidance of loss due to evaporation. We are confident that this will encourage greater adoption of floating solar across India allowing us to achieve our national renewable energy targets.”
RUMSL has identified land for the development of the project on the reservoir and will lease space for the development of this Floating Solar Park from NHDC.
Catch all the Industry News, Banking News and Updates on Live Mint.
Download The Mint News App to get Daily Market Updates.
More
Less
Subscribe to Mint Newsletters
* Enter a valid email
* Thank you for subscribing to our newsletter.
First article
