Indian Railways has mandated its 51% subsidiary Railway Energy Management Company Limited (REMCL) to tender, install and manage 3 GW of solar power on the company’s vacant land in India. The project will be divided into 3 phases of 1 GW each. The first and the third phase of 1 GW each will be on PPP basis under design, build, finance, operate and transfer model. The second phase of the project (1 GW) will be on the ownership model of REMCL. Construction is expected to be completed by 2022-2023.
In May 2020, REMCL launched a tender for developing 1 GW of ground-mounted solar PV projects on vacant land owned by Indian Railways. The proposed projects can be developed on single sites or divided into various locations within a state, provided they have a minimum capacity of 5 MW. Projects up to 50 MW can be connected to the power grid operated by states' utilities, while projects rated 50 MW and more will be required to connect to the national power grid. Projects will be awarded through an online reverse auction (open until 30 June 2020), with a price cap of INR 2.71/kWh (US$3.6c/kWh), and winning projects will secure a 25-year Power Purchase Agreement (PPA).
Indian Railways aims to develop 5 GW of solar capacity by 2025, which would help the company meet its target to become a net-zero emitter by 2030.
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