The state-run hydropower company NHPC Ltd signed a Memorandum of Understanding (MoU) with Green Energy Development Corporation of Odisha Ltd. (GEDCOL), a state-run PSU for the development of 500MW floating solar projects in Odisha under the Ultra Mega Renewable Energy Power Parks (UMREPP) scheme.
The agreement between the two sides was signed by R.K. Jaiswal, Executive Director (Renewable Energy) on behalf of NHPC and G.R. Das, Chief Executive Officer on behalf of GEDCOL via video conference on July 20, in presence of Dibya Shankar Mishra, Minister of State (Independent Charge), Energy, Industry & MSME, Government of Odisha who graced the event as the chief guest.
“The MoU provides a framework under which GEDCOL and NHPC shall collaborate and cooperate to form a joint venture company to explore, identify, plan and develop techno-commercially feasible floating solar power projects of aggregate 500 MW capacity (in a phased manner) in various reservoirs in the state of Odisha in Joint Venture mode under Ultra Mega Renewable Energy Power Parks (UMREPPs) scheme of Ministry of New & Renewable Energy, Government of India,” NHPC said in its statement.
The incubation period for conceiving the special vehicle project is expected to take about eight months, including the detailed report project preparation and award of work through EPC (engineering, procurement, and construction) bidding with the e-Reverse Auction process. The total investment in the project is estimated to be ₹2,500 crores.
NHPC is willing to develop hybrid projects in Odisha with a combination of solar and pumped storage as such hybrid concepts may result in viable propositions with storage back-up which can also provide stability to the grid, said A.K. Singh, CMD of NHPC.
The estimated time for completion of the conceived project will be around 18 months, with the first phase of the project likely to commence by March 2022.
