Active Stocks
Mon Mar 04 2024 09:50:47
  1. Tata Steel share price
  2. 151.75 -2.19%
  1. Bharti Airtel share price
  2. 1,141.30 0.95%
  1. NTPC share price
  2. 348.60 1.97%
  1. Power Grid Corporation Of India share price
  2. 291.60 1.64%
  1. Tata Motors share price
  2. 982.70 -0.58%
Business News/ Industry / Energy/  Amp Energy India inks PPA with Rewa Ultra Mega Solar for floating solar project
BackBack

Amp Energy India inks PPA with Rewa Ultra Mega Solar for floating solar project

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.

Amp Energy India inks PPA with Rewa Ultra Mega Solar for floating solar project (Photo by Sajjad HUSSAIN / AFP) Premium
Amp Energy India inks PPA with Rewa Ultra Mega Solar for floating solar project (Photo by Sajjad HUSSAIN / AFP) 

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.

 

 

Unlock a world of Benefits! From insightful newsletters to real-time stock tracking, breaking news and a personalized newsfeed – it's all here, just a click away! Login Now!

ABOUT THE AUTHOR
Rituraj Baruah
Rituraj Baruah is a senior correspondent at Mint, reporting on housing, urban affairs, small businesses and energy. He has reported on diverse sectors over the last six years including, commodities and stocks market, insolvency and real estate. He has previous stints at Cogencis Information Services, Indo-Asian News Service (IANS) and Inc42.
Catch all the Industry News, Banking News and Updates on Live Mint. Check all the latest action on Budget 2024 here. Download The Mint News App to get Daily Market Updates.
More Less
Published: 06 Aug 2022, 04:35 PM IST
Next Story footLogo
Recommended For You
Energy Stocks
₹1,970.6-0.44%
₹172.2-0.26%
₹504.650.97%
₹90.42-1.38%
₹341.852.09%
Switch to the Mint app for fast and personalized news - Get App