India's NHPC and GEDCOL will develop 500 MW floating solar power capacity in Odisha under UMREPP program of Ministry of New and Renewable Energy (MNRE). Both signed a MoU to this effect. (Photo Credit: NHPC Limited/Twitter)
- A MoU has been signed between NHPC and GEDCOL to develop 500 MW floating solar power capacity
- It will come up in phases in the state of Odisha by making use of it reservoir space
- EPC bids will be called for, for each such project and the entire capacity is likely to cost INR 25 billion investment
Two government agencies in India have come together to co-develop 500 MW floating solar power capacity in the state of Odisha to jointly explore the potential of this technology. Hydropower giant NHPC Limited and Green Energy Development Corporation of Odisha Ltd. (GEDCOL) entered into a memorandum of understanding (MoU) through video conferencing on July 20, 2020 to develop this capacity under the Ultra Mega Renewable Energy Power Parks (UMREPP) scheme of the Ministry of New and Renewable Energy (MNRE).
Under the MoU, a joint venture company (JVC) will be formed to explore, identify, plan and develop techno-commercially feasible floating solar power projects in a phased manner on various reservoirs in Odisha for a total investment of INR 25 billion ($335 million).
“The incubation period for conceiving each SPV Project would be around 7-8 months including DPR preparation and award of work through EPC bidding with e-Reverse Auction process. Approximate completion time for each conceived project will be around 18 months. The first phase work of the project is likely to be commenced by March 2022,” said NHPC.
The hydropower utility said it is willing to develop hybrid projects in Odisha using solar and pump storage to provide stability to the grid.
Both NHPC and GEDCOL believe floating solar is best suited to Odisha as it would lead to solar power development in remotest areas of the state while generating employment for locals.