GRIDCO Will Acquire 200MW Solar Power from NTPC

• GRIDCO will certainly obtain 200 MW of solar energy on a price of Rs 2.50 Kwh
• The procurement period begins with the financial year 2024-25 for 25 years.

Grid Corporation of Odisha (GRIDCO), a public industry undertaking of Odisha State Government has actually authorized a Power Sale Agreement (PSA) with National Thermal Power Corporation (NTPC) in Bhubaneswar for the purchase of clean energy.

The main statement of GRIDCO checks out that under the Power Sale Agreement, GRIDCO will certainly obtain 200 MW of solar energy at a price of Rs 2.50 Kwh via Inter State Transmission System (ISTS). The purchase period starts from the financial year 2024-25 for 25 years.

The agreement was checked in the existence of Principal Secretary, Energy, Nikunja Bihari Dhal. GRIDCO says that this is the least expensive solar power contracted for the intake in the state. GRIDCO was also one of the first clients for power from SECI's manufacturing linked solar tenders, assisting the process begin there.

With 200MW being available in, GRIDCO is expected to fulfill its Renewable Purchase Obligations (RPO) in the coming days. Other officials were likewise existing during the agreement signing: Trilochan Panda, MD, G B Swain, Director (F&CA) and also Umakanta Sahoo, Director (T&BD) of GRIDCO Limited. Additionally existing were M K Singh, CGM, Subodh Pradhan, AGM as well as G C Mahapatra, AGM of NTPC Limited as well as Lipsa Das, Additional Secretary and Sambit Parija, Additional Secretary Energy Department.

GRIDCO is in the business of transmission and bulk supply of electricity and various other related activities exclusively in the state of Odisha. Last December, Odisha Electricity Regulatory Commission (OERC) had actually guided 8 solar energy programmers to change their Power Purchase Agreements (PPAs) with GRIDCO. The factor was that if GRIDCO had to pay penalties for not satisfying the eco-friendly purchase obligation (RPO) targets, the renewable energy programmers also must share the punishment. In August, 2010, GRIDCO had authorized PPAs with 8 solar power programmers to acquire 1MW capacity from each.

Odisha Renewable Energy Policy, 2016, has set a target of 2200 MW of additional solar generation capacity by the end of 2022 that includes rooftop solar projects and also non-land based setups.

Lately Minister for New as well as Renewable Energy, RK Singh has made a declaration in the Parliament that the Central Government has actually approved three solar energy parks for Odisha under the Solar Park Scheme with a cumulative capacity of 340 MW.