Essel Green Energy, IBC Solar Ventures to install solar plants in Odisha

Aiming to establish its foothold in the country's renewable energy map, Odisha expects the addition of 270 Mw of solar power by September this year. 

“IBC Solar Ventures India with a capacity of 20 Mw and a 10 Mw by Odisha based  Jyoti Infrastructure has been synchronized with the grid. 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”, said an official source. 

The balance 120 Mw capacity will be commissioned by September this year, added the official. 

Gridco is now purchasing 138 Mw of solar to meet its requirement which includes 63 Mw installed within the state. 

Private sector interest in Odisha's solar power sector is now seeing traction. 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. 

Central PSUs 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. 

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