Abstract
India introduced a national solar mission in 2009 with initial target of achieving 20 GW of solar installations by 2022. In 2014, the target was revised to 100 GW and a solar park scheme was launched to promote large solar power projects. The planning for Rewa Ultra Mega Solar (RUMS) Park, the largest grid connected solar power plant the time in India, began in 2014 and the full commercial generation started in 2020. At a levelized tariff of Rs 3.30 (∼USD 0.04) per unit for 25 years, it is one of the cheapest solar power producing plants in the world. In this paper we describe in detail the planning and development of RUMS park, review the common risks associated with large renewable projects and specifically analyze ways in which RUMS Park has tried to mitigate those risks. Insights are useful for designing policies and planning for large solar projects in India and elsewhere. • Multiple project design and coordination mechanisms reduced economic and financial risk. • Transparency and timeliness in land identification and acquisition reduced policy and regulatory risk. • Use of single contiguous barren land, higher compensation, and local employment reduced social risk. • Involvement of global institutions and reverse bidding generated investor confidence.
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