Odisha 200 MW Solar Projects Is Oversubscribed By 4 Times

In Clean News, News, Renewable Energy, Solar

Private sector interest in Odisha’s solar power sector had not seen enough traction till now as opposed to central PSUs that have been interested in putting up projects in the state.

But Odisha’s latest offer to develop 200-Mw of grid-connected solar power projects has see an interest from the likes of Aditya Birla Group, Mahindra Group, IBC Solar, Essel, Hero Group and Azure Power.

Gridco, state’s bulk power purchaser, which had floated the tender, has received 14 bids from the interested players.

Sources said that against the target of 200 Mw, the state’s bulk trader has received bids for a whopping 845 Mw and all the 14 players have qualified the technical round. The bids have a greenshoe option wherein Gridco can go up to 300 Mw capacity in solar installs.

Gridco will enter into a power-purchase agreement (PPA) with the successful bidder for 25 years from the date of commercial operations. Capacity of an individual project will be a minimum of 10 Mw and maximum up to 100 Mw in multiples of 5 Mw. The latest tariff rate in Odisha for solar is Rs 4.5 per Mw under a scheme of the new and renewable energy ministry.

The bidder will have the autonomy to identify the land for developing the project.

 

Reference- Business Standard, Marcom, Gridco website

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