NHPC to develop 500 MW floating solar projects in Odisha, signs MoU with GEDCOL

New Delhi: NHPC Limited, India's premier hydropower company has signed a memorandum of understanding (MOU) with Green Energy Development Corporation of Odisha Limited (GEDCOL), a leading state PSU in the renewable energy sector in Odisha, for the "development of 500 MW floating solar projects in Odisha under UMREPP (Ultra Mega Renewable Energy Power Park)." The MoU has been signed through a video conference on Monday in the presence of Dibya Shankar Mishra, Minister of State (Independent Charge), Energy, Industry & MSME, Government of Odisha, who was present as Chief Guest. NHPC Limited’s Chairman & Managing Director (CMD) AK Singh, GRIDCO’s Chairman-cum-MD Bishnupada Sethi, GRIDCO’s MD Dr Saurabh Garg, and the Principal Secretary of Energy Department of Odisha, Nikunja Bihari Dhal, were present on the occasion.

The MOU has been signed by NHPC’s Executive Director (Renewable Energy) RK Jaiswal and GEDCOL’s Chief Executive Officer GR Das. Director (Projects) Ratish Kumar, Director (Personnel) NK Jain, Director (Finance) MK Mittal, Director (Technical) YK Chaubey, Independent Director JK Mohapatra from NHPC and Vivek Patnaik, IAS (Retd.) participated in the MoU signing ceremony through video conferencing.

Scope of MoU

The MOU provides a framework under which GEDCOL and NHPC shall collaborate and cooperate to form a Joint Venture Company (JVC) to explore, identify, plan and develop techno-commercially feasible floating solar power projects of aggregate 500 MW capacity (in a phased manner) in various reservoirs in the state of Odisha in Joint Venture mode under Ultra Mega Renewable Energy Power Parks (UMREPPs) scheme of the Ministry of New & Renewable Energy.  The total estimated investment shall be to the tune of Rs 2,500 crore. The incubation period for conceiving each SPV project would be around 7-8 months, including DPR preparation and award of work through EPC bidding with the e-reverse auction process. The approximate completion time for each conceived project will be around 18 months. The first phase work of the project is likely to be commenced by March 2022.

The development of floating solar projects in Odisha shall be a win-win proposition for the people of the state and the state government as it would bring employment and shall result in solar developmental activities in the remotest of areas.

Speaking on the occasion, Singh expressed NHPC's gratitude to the government of Odisha for considering NHPC as a partner for GEDCOL to jointly harness the huge floating solar potential of Odisha. He also informed that NHPC is willing to develop hybrid projects in Odisha with the combination of solar and pump storage, stating that such hybrid concepts may result in viable propositions with storage back up which can also provide stability to the grid.

Mishra congratulated both the organisations and said that the MoU will further bolster the renewable energy aspirations of the state, which are being planned in line with the government commitments towards climate change and carbon neutrality.

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