Solar Plus Storage Project Records Lowest Tariff Of ₹2.70 Per Unit In Madhya Pradesh's Morena

Bhopal (Madhya Pradesh): In the state’s first Solar-plus-Storage project being developed in Morena, a record-low tariff of Rs 2.70 per unit has been achieved.

This is the first project in India where firm and dispatchable renewable energy (FDRE) will be available at a cost of less than Rs 3 per unit.

With 95% annual availability, the project has set a new benchmark, whereas previous projects across the country could ensure only about 50% peak-hour availability and 85% annual availability. The Morena project is changing this trend by ensuring 95% supply during peak hours.

The Morena Solar Park is being executed by Rewa Ultra Mega Solar Limited, which has previously developed prestigious renewable energy projects. The electricity generated will be purchased by the state. Two units are being set up at Morena Solar Park, each delivering 220 MW capacity across three phases.

Global competition

The e-reverse auction was held on Friday in which bidding process lasted for 12 hours. Sixteen national and international companies participated, almost 10 times the oversubscription of the offered capacity.

Participants included Adani Renewables, NTPC Renewables, ReNew Solar, ACME, Engie Energy, Dilip Buildcon, and MB Power.

Unit-1 was awarded to Ceigall India Ltd at Rs 2.70 per unit.

Unit-2 went to Acme Solar Holding Ltd at Rs 2.764 per unit.