Omkareshwar Floating Solar Project

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Context

• The largest floating solar project in central and north India, generating 90 MW of energy, has been successfully commissioned at Omkareshwar in Madhya Pradesh.

Project

• The Omkareshwar Floating Solar Project, with an investment of Rs 646 crore, was officially commissioned on August 8.
• Developed under the Union Ministry of Renewable Energy, it stands as the largest solar park in India and the most significant floating solar project in central and north India.

Environmental Impact

• The floating solar project is set to reduce carbon emissions by 3 lakh tonnes, contributing significantly towards the central government's goal of achieving net zero carbon emissions by 2070.
• Additionally, it will aid in water conservation by minimizing water evaporation.

Financial and Operational Details

• Developed through competitive tariff bidding, the project operates on a Build Own and Operate basis for 25 years at a rate of Rs 3.26 per unit. It has been established on the backwaters of the Omkareshwar dam.

Read about Solar Power in India: https://www.iasgyan.in/daily-current-affairs/solar-power-in-india-38#:~:text=Global%20solar%20generation%20in%202023,acceleration%20in%20solar%20power%20adoption.

Must Read Article: https://www.iasgyan.in/daily-current-affairs/indias-solar-power-an-overview 

 SOURCE: IE