Context:

• Inauguration of a 750 MW solar power project in Rewa district by PM.

PM Statement:

• Developed by the Rewa Ultra Mega Solar Limited (RUMSL), a Joint Venture Company of Madhya Pradesh UrjaVikas Nigam Limited (MPUVN), and Solar Energy Corporation of India (SECI), a Central Public Sector Undertaking.
• Will help in achieving the target of paris agreement of achieving the installed capacity of renewable energy of 175 GW including 100 GW of solar capacity.
• Price of Solar power has declined from 7-8 rs unit to 2.30 -2.40 rs. Unit.

Significance:

• First project in India to break the grid parity barrier.
• Delhi Metro will use 24% of the electricity produced from it, Madhya Pradesh will use the rest.
• Reduction of carbon emission equivalent to 15 lakh tons of CO2 per year.

Grid Parity:

• When price of the alternative source of power is equivalent to the price of Thermal power project.

Reference: https://www.thehindu.com/news/national/other-states/india-most-attractive-global-market-for-clean-energy-modi/article32040039.ece#:~:text=Prime%20Minister%20Narendra%20Modi%20on,(self%2Dreliant%20India).&text=%E2%80%9CThe%20project%2C%20along%20with%20others,%2C%E2%80%9D%20said%20Mr.%20Modi.

Download PDF