BHOPAL: Next year on Independence Day, India will have the world’s largest 750MW solar power plant in Rewa district of Madhya Pradesh, which will pip America’s much-vaunted 550-megawatt Desert Sunlight solar project in California, commissioned four days ago.

Acquisition of 1,500 hectares of land for the Rs 4000 crore project is close to completion and government agencies are likely to invite tenders from developers by April. The state government is setting up the plant in a joint venture with Solar Energy Corporation of India.

The expected cost of power production is pegged at Rs 5 per/unit which would be lower than production costs in any solar project in the country, including the one at Neemuch in MP and Mehsana and Patan in Gujarat.

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Speaking to TOI, additional chief secretary for new and renewable energy, SR Mohanty, said, “We are planning to inaugurate the plant on August 15, 2016. The plant will be developed in three segments of 250 MW each. Land acquisition will be over by end of month and over 90% land for the project is owned by government,” he said.

Acquisition for remaining 300 hectares of non-government land is continuing. “There are no hiccups as the land is non-agricultural and barren,” said Rewa district collector, Rahul Jain.

Speaking to TOI, Mohanty said, “No clearance from pollution control board is required for the project. We have to sign a joint venture agreement between state-run PSU Urja Vikas Nigam and Solar Energy Corporation of India and a detailed project report will be prepared. Preliminary reports are already prepared and we will complete formalities by April and we will be in a position to invite tenders.”

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Work on laying transmission lines is under way.

“State government will help developers get the project financed with easy loans and little paperwork. World Bank has given its nod to fund 49% of the cost at concessional rates. Developers who quote the lowest power tariff will bag the project,” said Mohanty. And at least 20% power produced from the solar plant will be for Madhya Pradesh, he said.

The plant is being set up in Gurh tehsil of Rewa district and will straddle five villages of Barseta.