New Delhi: State-run Solar Energy Corporation of India (SECI) Limited has signed a Power Sale Agreement (PSA) with GRIDCO Odisha for the sale of 600 MW of wind power, the Ministry of New and Renewable Energy (MNRE) said on Friday. “Solar Energy Corporation of India Limited (SECI), Ministry of New and Renewable Energy, Government of India has signed a Power Sale Agreement (PSA) with GRIDCO Odisha, Government of Odisha under which GRIDCO Odisha will purchase 600 MW of wind power from SECI under Tranche – XIII of ISTS (Inter State Transmission System) Connected Wind Power Projects Scheme,” said a statement.
Under the ISTS scheme of the Ministry of New and Renewable Energy, power generated from a state rich in renewable energy resources could be transmitted to states that are deficient.
The agreement between SECI and GRIDCO was signed in Bhubaneshwar on Friday in the presence of the Additional Chief Secretary, Department of Energy, Government of Odisha, NB Dhal.
Odisha Electricity Regulatory Commission has already given in-principle approval for the procurement of 600 MW wind power by GRIDCO. Power is scheduled to be commissioned within 24 months from the date of signing the Power Purchase Agreement (PPA) with Project Developers. The aggregate capacity of 600 MW is likely to be installed by developers based in Gujarat, Karnataka and Maharashtra.
Till date, SECI has awarded Renewable Energy project capacity of over 58 GW. SECI is also active in setting up of projects through its own investments as well as for other public sector entitites as a Project Management Consultant (PMC). SECI enjoys an ICRA credit rating of AAA.
GRIDCO Limited is presently engaged in bulk purchase and bulk sale of power to the four Distribution Companies inside the State of Odisha and trading of surplus power through traders to promote exchange of power with neighbouring States in the country.