Essel Green Energy To Install Solar Plants In Odisha

Essel Green Energy, a subsidiary of Subhash Chandra’s Essel Group is expected to commission 120 MW (3 x 40 Mw) out of 240 MW solar project it has won through tender from Solar Energy Corporation of India by June. The balance 120 Mw capacity will be commissioned by September this year.

Gridco is now purchasing 138 Mw of solar to meet its requirement which includes 63 Mw installed within the state. Solar energy majors are making a beeline for putting up units in Odisha after Gridco has invited bids to select 200-Mw of grid-connected solar power projects. Apart from Essel Group, companies like Acme, ReNew Power, Tata Power, IBC Solar, Sahara Power and Adani Green Energy have already evinced interest.

The project will be developed in a non-solar park model, where bidders are given a free hand to choose their land. The capacity may be allotted to bidders with lowest tariffs discovered under the competitive bidding process followed by e-reverse auction.

Gridco will enter into a power-purchase agreement (PPA) with the successful bidder for 25 years from the date commercial operations begin.

Odisha recently cleared a plan by North Eastern Electric Power Corporation (NEEPCO) to invest Rs 9.44 billion to set up a 200-Mw solar power plant. The unit is scheduled to start operations in December 2019. It has also provided in-principle clearance for 250 Mw solar power project proposed by NLC at the cost of Rs 45 million per Mw. The government has also offered to sign a PPA with NLC.

The latest tariff rate in Odisha for solar is Rs 4.5 per Mw under a scheme of the new and renewable energy ministry.