MAHINDRA RENEWABLES PRIVATE LIMITED (“MRPL”/ “the Company”) has been granted, through international competitive bidding, a 250MWac solar power project (“the Project”) within the 750MWac Rewa Ultra Mega Solar Park in the Rewa district of Madhya Pradesh, India.

The Project will be developed by MRPL, which is 100% subsidiary of Mahindra Susten Private Limited (“MSPL” / “Sponsor”). The solar park is being developed by Rewa Ultra Mega Solar Limited (“RUMSL”), a joint venture between Madhya Pradesh Urja Vikas Nigam Limited (“MPUVNL”) – a Madhya Pradesh State Government agency and the Solar Energy Corporation of India (“SECI”).

The Project is expected to be commissioned by December 2018. The off-takers for the Project will be Madhya Pradesh Power Management Company Limited (“MPPMCL”) and Delhi Metro Rail Corporation (“DMRC”).   

The Government of Madhya Pradesh (“GoMP”) appointed IFC as the lead transaction advisor to enable RUMSL and the GoMP to facilitate the entire private investment for the Rewa Solar project. IFC's role includes advising on a robust project structure, identifying, recommending and upon request helping implement solutions for key commercial, legal, regulatory, technical and system operations related issues and designing a transparent auction process to help select private entity(ies) to develop the units in the Rewa Solar project.