Shivraj Singh invites investors as MP signs MoU for first phase of Omkareshwar floating solar project

Bhopal (Madhya Pradesh) [India], August 4 : In a new milestone in the field of solar energy, Madhya Pradesh signed a contract for the first phase of the world's largest floating solar project at Omkareshwar on Thursday.
Attending the event, Chief Minister Shivraj Singh Chouhan invited the solar energy investors to the state and said that the plant for which the Memorandum of Understanding that has been signed will be the world's largest plant out of the 10 such plants.
In the first phase of this 600 MW project, a contract for 278 MW capacity has been signed.
"Today I am very happy because our dream is coming true. In Madhya Pradesh, we had installed the largest solar power plant at that time in Rewa. The floating power plant of Omkareshwar is amazing in itself. As of now, there are only 10 floating power plants in the world. The plant for which the MoU has been signed today will be the world's largest plant," he said.
Detailing the benefits of the plant, Chouhan said that it will generate more electricity than the solar panels placed on land surfaces.
"It was my wish that we should start the work of this plant as soon as possible. Its speciality is that it has 0 per cent displacement. Plants placed on the surface of water generate more electricity than solar panels that are laid on land. Dam water will also be saved from evaporation from this plant. Dam water will also be saved from evaporation from this plant," the Chief Minister said.
"Planting plants will reduce vegetation like algae, which will keep the water fit for drinking. The state is committed to the mantra of Panchamrit given by the Prime Minister," he added.
Recalling Prime Minister Narendra Modi's commitment to meet 50 per cent of India's energy requirement with renewable energy, the Chief Minister said that the state government will increase the existing 5,000 MW capacity to 20,000 MW.
"By 2030, India will meet 50 per cent of its energy requirement with renewable energy, this is the commitment of PM Modi. In 2012, our renewable energy generation capacity was less than 500 MW, but now, we have more than 5,000 MW. We will increase it to 20,000 MW," he said.
"At the time of Rewa Solar Power Plant, the purchase rate was Rs 4.50 per unit, we got it down to Rs 2.97 per unit in Rewa Solar Plant," Chouhan added.
Inviting the solar energy investors to Madhya Pradesh, the Chief Minister said that there is no shortage of land and water in the state.
"Our aim is to make Madhya Pradesh the heart and lungs of India. I invite all solar energy investors to Madhya Pradesh. Our policy is investor friendly. Madhya Pradesh is an island of peace. There is no shortage of land and there is no shortage of water here. Saving electricity is like making electricity. We have started Energy Literacy Mission in Madhya Pradesh," he said.
Notably, the floating solar plant will start at its full capacity from September 2023. The renewable energy capacity has increased by 10 per cent in Madhya Pradesh in the last one decade. The target of renewable energy capacity in Madhya Pradesh is 20,000 MW by 2027.