Gridco aims to buy 550 Mw renewable power from SECI in FY20

Will source around 300 Mw of solar and 250 Mw wind power to meet the RPO renewable purchase obligation

Odisha's bulk power buyer cum trader Gridco aims to procure 550 Mw of solar and wind power through Solar Electrification Corporation of India (SECI) auctions in 2019-20.

“The bulk power purchaser will get around 300 Mw of solar power and 250 MW wind power through SECI. The power purchase will be made to meet the RPO (renewable purchase obligation)”, said an official.

Gridco can draw this solar power without forking out transmission or wheeling charges.

Odisha is known to be a laggard state in generating power from non-conventional sources. Availability of contiguous land is viewed as the key roadblock for developing solar projects.

Against the requirement of around 1100 Mw to meet the RPO in 2019-20, the state generates about 540 Mw renewable energy only.

Gridco expects to get power from SECI at a price cheaper than Aditya Birla Renewables' offer of Rs 2.79 per unit. Part of the diversified Aditya Birla Group, the company emerged the L1 bidder at Odisha's maiden solar power auctions in July last year. Gridco had floated tenders for 200 Mw solar power capacity. The tenders were oversubscribed by over four times with developers bidding for 845 Mw. As the successful bidder, Aditya Birla Renewables is setting up 75 Mw solar power unit.

Gridco has opted for re-tendering of the balance 125 Mw capacity as L2 and L3 bidders did not close in on the price gap with the lowest bidder. The differential between L1 and the other bidders had unsettled Gridco authorities. Three players- were tied up at the L2 level with a price quote of Rs 3.19 per unit- Sukhbir Agro Energy Ltd, city based Gupta Power Infrastructure Ltd and Eden Renewable Varenne Pvt Ltd, bagging 25 Mw, 20 Mw and 50 Mw capacities respectively. Acme Solar finished as the L3 bidder, quoting Rs 3.20 for 50 Mw unit.