Amp Energy India inks PPA with Rewa Ultra Mega Solar Ltd to develop India’s Largest Floating Solar Project – EQ Mag Pro
New Delhi : Amp Energy India, one of India’s leading renewable energy companies, today announced that it 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 for the state of Madhya Pradesh.
RUMSL is planning a 600 MW floating solar park at the Omkareshwar Reservoir, which is India’s largest and one of the world’s largest floating solar projects. 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.
Mr. Pinaki Bhattacharyya, Managing Director, and CEO, Amp Energy India, said, “This is one of the largest floating solar projects by an IPP in India. RUMSL is a world-class solar park developer and we are happy to partner with them on this groundbreaking project in Madhya Pradesh, the heart of India. While solar energy is an important source of renewable power, deployment of solar projects requires large contiguous parcels of land, which is not always available. Floating solar projects can be a great alternative to this and help mitigate developmental risks. Our successful bid is a testament to our competitive advantage and highlights our capabilities in providing diversified solutions across technologies. 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 model for a fixed tariff of 25 years, will generate about 198MUs per year and will also help mitigate about 85,654 MT of CO2 per annum.
Shri Sanjay Dubey, Chairperson, RUMSL, said: “We are proud to partner with Amp Energy India, one of India’s leading renewable energy company, in developing World’s largest floating solar power project. This project will not only utilize 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.
About Amp Energy India (AEI)
Amp Energy India is India’s first truly balanced Renewable Energy IPP with a total portfolio of about ~2GW+ spread across 15 states in the country. Amp India has a balanced portfolio of C&I and utility customers which allows it to provide clean and green energy solutions to 50+ marquee customers across 10 diverse sectors such as Pharmaceuticals, Automobiles, Cement, Steel, Heavy Engineering, Infrastructure, FMCG, Educational Institutions, IT & Datacenters, Utilities and Government bodies.
AEI is one of the few developers that has the capability to provide diversified solutions to its customers in niche segments (Solar, Hybrid, Floating Solar) on a large scale. These solutions help utility customers to meet their renewable energy targets, reduce their power purchase cost and also fulfil their renewable purchase obligations.
Amp Energy India acts as a One Stop Shop for Energy providing renewable energy solutions to customers across technologies such as Solar, Wind, Hybrids, Storage and Energy Management and has the ability to meet short-term, medium-term and long-term requirements of its customers.
Amp Energy India is also associated with the Amp Energy Group headquartered in Toronto, Canada. With about $2 Billion total Capex financed globally, Amp Energy is a global energy transition platform with a focus on the key renewable markets such as US, Canada, India, Japan, Spain and Australia globally.