Madhya Pradesh witnesses a Solar Revolution on Saturday, when 291 Government Colleges, 124 engineering colleges/ polytechnics/ ITIs and 12 universities got the advantage of solar energy without making any capital investment.
The solar projects on rooftop of these buildings would be set up under Renewable Energy Service Company (RESCO) mode by private investors, who would supply electricity to these buildings at rates far below the prevailing rates. As many as 427 Power Purchase Agreements (PPAs) between various educational institutions and private developers were signed on Saturday in a glittering ceremony here at the Academy of Administration.
The ceremony was held in the presence of Vijendra Singh Sisodiya, Chairman, MP Urja Vikas Nigam, Manu Srivastava, Principal Secretary, New and Renewable Energy Department, Neeraj Mandloi, Principal Secretary, Higher Education Department, Sanjay Goyal, MD, M.P. Madhya Shetra Vidyut Vitaran Company and Ajit Kumar, Commissioner, Higher Education Department.
The 291 Government colleges in the State would be supplied power at the rate of Rs 2.21 per unit. Besides, 124 government engineering colleges/ polytechnics/ ITIs would be supplied power at the rate of Rs 2.35 per unit. Twelve universities would get power at Rs 1.91 per unit. The rates would increase by 3 per cent every year and, thus, double at the end of 25 year project period.
Saving to Government colleges across the State is estimated at almost Rs 4 crore in the first year. Saving during project life of 25 years would be Rs 144 crore with Net Present Value of over Rs 50 crore. Similarly, first year saving to government engineering colleges would be Rs 1 crore with project life saving of Rs 39 crore (Net Present Value of Rs 13.5 crore).
Under the RESCO project, the responsibility of maintenance of the solar systems for the first 25 years would be of the developer. Since the developer would get paid only for electricity supplied, there is a natural incentive to properly maintain the system.
The RESCO Project of Madhya Pradesh implemented by MP Urja Vikas Nigam Ltd has been appreciated throughout the country as also outside. The project has been executed with technical assistance from the World Bank and International Solar Alliance. Manu Srivastava, Principal Secretary, New and Renewable Energy Department informed that his department has already made presentation before the ambassadors of West Africa on Ghana on September 11, 2018, ambassadors of African countries on September 17, 2018, and ambassadors of Asian countries on September 19, 2018 to acquaint them with the RESCO model of Madhya Pradesh.