Mumbai, Oct. 7 -- The LoA pertains to the development of a 100 MW grid-connected ground-mounted solar PV power project under captive mode, which will supply power to MPJNM for 25 years from the date of commissioning.

The project will be developed in Ramnagar and Dhanwada villages, located in Suwasra tehsil, Mandsaur district. The power supply rate is fixed at Rs 2.09 per unit, using non-DCR (Domestic Content Requirement) panels.

Under the captive model, MPJNM will invest Rs 31.20 crore as equity or an equivalent instrument to hold a 26% equity share and ownership in the project company, in line with applicable regulations.

Approximately 315 acres of land, required for the project, will be provided by MPJNM. The construction period is s...