GRIDCO and NHPC sign deal for developing renewable energy projects

GRIDCO and NHPC sign deal for developing renewable energy projects

The Grid Corporation of Odisha Limited (GRIDCO) and the National Hydro Power Corporation (NHPC) have signed a memorandum of understanding for the development of pumped storage projects (PSPs) and renewable energy in the state.

The MoU calls for the establishment of self-identified pumped storage projects with a capacity of at least 2,000 MW and renewable energy projects (ground-mounted solar projects/floating solar projects) with a capacity of around 1,000 MW in the state.

NHPC will identify viable potential sites for PSPs and renewable energy (RE) projects under the terms of the agreement. The planned RE capacity will supplement the state’s renewable energy portfolio, while the PSP capacity will aid in addressing the variability and intermittency of RE power generation and achieving net-zero ambitions through compliance with renewable purchase obligations (RPO), according to the statement.

GRIDCO, which has been designated as the nodal agency for the implementation of the Odisha Renewable Energy Policy, 2022, has first refusal for capacity based on requirements. Previously, GRIDCO had signed Memorandums of Understanding (MoUs) with three other central public sector undertakings – NTPC, NLCIL, and SJVNL – for the development of renewable energy projects in the state.

NHPC, India’s largest public sector hydropower development organization, has made significant investments in solar and wind energy development. In January 2022, NHPC agreed to form a joint venture company with Green Energy Development Corporation of Odisha Limited (GEDCOL) to produce solar power from floating installations in various reservoirs throughout the state.

In Rengali reservoir, the national PSU is constructing two floating solar power projects, one of 100 MW under floating solar park phase-I and the other of 200 MW under floating solar park phase-II. The two projects are in different stages of completion. Panda and NHPC executive director Rajat Gupta signed the MoU on June 23 in the presence of additional chief secretary, Energy-cum-GRIDCO chairman Nikunja B Dhal, NHPC director (Projects) Biswajit Basu, and other senior officers.