Project boost cheapest renewable tariff.

The 750-MW Rewa Ultra Mega Solar Power Project (UMSPP) and Madhya Pradesh Power Management Company (MPPMC) has signed a power purchase agreement (PPA) with Delhi Metro Railways Corporation (DMRC) on 17 April 2017.

The Bhopal-based Rewa UMSPP, which is implementing the world’s biggest solar project, has levelized its power tariff at Rs.3.30 per unit over the 25-years of production life.

It has also recorded lowest level of tariff at Rs.2.97.

Delhi Metro will save Rs.1.20 based on new pricing compared to original tariff of Rs.4.50.

India has increased renewable energy installation by 370% from 2,600-MW of solar power in 2014 to the current 12,200-MW.

It is expected to installed 20,000-MW of solar capacity b6 end of this year, five years ahead of the target, said Union Minister of State for Power, Coal, New & Renewable Energy and Mines, Piyush Goyal at the PPA signing ceremony. fii-new.com

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