The bids have a greenshoe option wherein Gridco can go up to 300 Mw capacity in solar installs
Diversified business conglomerates have joined the fray for developing 200-Mw of grid-connected solar power projects in Odisha.
The companies included 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.
“We expect to conduct reverse bidding by the third week of this month,” said the official.
The state has a cumulative solar target to generate 2378 Mw by under the National target of 100 GW of solar by 2022, which includes 1000 Mw of solar project.
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.
Recently, Essel Green Energy, part of the Subash Chandra-owned Essel Group, won bulk of the 270-Mw tender for solar capacity at Odisha floated by the Solar Energy Corporation of India. Essel Green Energy was awarded 240 Mw, Jyoti Infrastructure bagged 10 Mw and IBC Solar Ventures bagged 20 Mw from the tender.
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. After NTPC, NLC and North Eastern Electric Power Corporation (NEEPCO), SJVN, a mini-ratna PSU, has evinced interest in participating in the state’s solar park programme.
Odisha recently cleared a plan by 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.
Prasanta Patnaik 
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