Major business conglomerates have joined in the race to bid for 200 MW grid-connected solar power projects in Odisha.
As many as seven companies viz. the Essel Group, ACME Solar, ReNew Power, Tata Power Renewable Energy, IBC Solar Projects Private Limited, Adani Green Energy Limited and Sahara India Power Corporation Ltd. have responded to the bid invited by Gridco in Odisha during April 2018.
Gridco will sign the PPA with the successful bidders for 25 years from the commercial operation date of the project. The state has a cumulative solar target to generate 2,378 MW by under the National target of 100 GW of solar by 2022, which includes 1,000 MW of solar power. The bidder has the autonomy to identify the land for developing the project. 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.