Power Purchase Agreement signed in presence of Energy Minister Shri Yadav

Bhopal : January 25, 2019 (Ataullah Faizan): In order to install Rooftop Solar Energy Production Plants, a Power Purchase Agreement has been signed today in presence of the Minister for New and Renewable Energy Shri Harsh Yadav. Shri Yadav said that this agreement will facilitate electricity on low rate to private sector and farmers. Solar Energy Plants will prove to be helpful in maintaining environmental balance.
The Principal Secretary, Shri Manu Shrivastava said that solar energy has been introduced for environment conservation and to tackle the problem of global warming. Solar energy used to be very costly initially, the rates have come down gradually. He further stated that module of this project is also being adopted by Assam, Bihar and other states of the country.
On this occasion, it was informed that Tenders on Renewable Energy Service Company (RESCO) Financial Model have been invited by the Urja Vikas Nigam recently for installation of solar plants without any capital investment in various government and private institutional sector. Under this, minimum rate of Rs. 1.58 has been received from the Developer, AMP Solar India Private Ltd. for the Power Grid Corporation Ltd.
Under the RESCO tender, technical information of the concerning work places has been collected in cooperation with the World Bank and New and Renewable Energy Department of the Government of India. The beneficiary organisations have been apprised with complete tender form and solar energy production and Power Purchase Agreement, prepared in connection to purchase and payment and their consent has been received before releasing the tender is the special initiative of the tender.
Solar plants of about 2250 k.w. capacity will be installed at 10 various organisations of Power Grid located in Madhya Pradesh at Damoh, Indore, Khandwa, Dhar, Satna, Shujalpur (Shajapur), Vindhyachal (Singruali), Betul, Rewa and Jabalpur. A total of 30 lakh electricity units will be produced annually from the proposed capacity. The Power Grid will save approximately Rs. One crore 50 lakh in the first year. After the installation of these plants, reduction in carbon emission will prove beneficial to improve environment.