IN PARTNERSHIP WITH


#REINVEST2018 Programme: Session Details


Friday 5 October, 2018 1200 - 1330 IST Select Venue Session Coordinators

Roadshow of 1500 MW Solar Project in Madhya Pradesh

Mr J K Jethani
Scientist E, MNRE
E: jethani.jk@nic.in
T: 011 24365666
Ms Paramita Chatterjee
E: paramita.chatterjee@cii.in
T: +91 9910257311

Rewa Ultra Mega Solar Ltd (RUMSL) implemented the innovative 750MW Rewa Solar Project, with historical outcomes. The Rewa project helped India achieve grid parity triggering the end of reliance on Viability Gap Funding.  The Government of Madhya Pradesh coordinated closely with Government of India to introduce several firsts to the solar power sector in India. The project demonstrated the ability of the State Government, working with international institutions such as IFC and World Bank, to present a thoroughly prepared investment ready project to investors. The project opened the doors for large institutional customer outside the State (Delhi Metro) to procure power directly from projects alongside the state discoms. 

Now RUMSL is coming up with 1,500 MW solar project. This project is in Shajapur, Agar and Neemuch districts of MP. Power from this project would be supplied to the State and to Indian Railways. The Roadshow would include the following: 

•    Signing of Terms of Reference between Indian Railways, Railways Energy Management Company Ltd. (REMCL), and RUMSL for procurement of about 25% of the energy from project.

•    Signing an agreement with IREDA for setting up of innovative Payment Security Fund using market principles, rather than budgetary allocation as has been done earlier.

RUMSL is partnering with IFC as Transaction Advisor and the World Bank through IREDA as financiers for solar park infrastructure for the 1500MW project. Riccardo Puliti, Senior Director, Energy and Extractives Global Practice, World Bank Group would be gracing the occasion. Manu Srivastava, IAS, Principal Secretary and Chairperson, Rewa Ultra Mega Solar Ltd will lead the Roadshow.  Bhanu Mehrotra, Global Sector Lead for Intermittent Power, Transaction Advisory will represent IFC. 
 

Kuljit Singh Popli

Kuljit Singh Popli

Chairman & Managing Director
Indian Renewable Energy Development Agency Ltd (IREDA)

Manu Srivastava

Manu Srivastava

Principal Secretary, New and Renewable Energy Department
Government of Madhya Pradesh

Riccardo Puliti

Riccardo Puliti

Senior Director & Head, Energy and Extractive Industries Global Practice
World Bank Group