In a major milestone for renewable energy, the state’s first solar-plus-storage project in Morena has achieved a record-low tariff of Rs 2.70 per unit. This marks the first project in India to deliver firm and dispatchable renewable energy (FDRE) at under Rs 3 per unit.

The project guarantees 95 per cent annual availability, a significant leap from previous projects that typically ensured only 50 per cent peak-hour supply and 85 per cent annual availability. By ensuring 95 per cent supply during peak hours, the Morena project sets a new benchmark for reliability in renewable energy.

The Morena Solar Park is being developed by Rewa Ultra Mega Solar Limited, known for executing large-scale renewable projects. The electricity generated will be purchased by the state. Two units are being established at the park, each with a capacity of 220 MW across three phases.

An e-reverse auction held on Friday lasted 12 hours and attracted bids from 16 national and international firms, nearly ten times the subscribed 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, while Unit 2 went to Acme Solar Holding Ltd at Rs 2.764 per unit.