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NHPC, GRIDCO to develop pumped storage and solar projects in Odisha

June 28, 2023 2:31 pm

NHPC, GRIDCO to develop pumped storage and solar projects in Odisha
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According to the signed MoU, NHPC, in collaboration with Grid Corporation of Odisha will develop 2GW of pumped storage projects and 1 GW of solar projects.

NHPC Ltd, a renowned hydropower developer, has recently joined hands with the Grid Corporation of Odisha (GRIDCO) through a Memorandum of Understanding (MoU). This significant agreement is poised to pave the way for the development of pumped storage and renewable energy projects in the state of Odisha.

As per the terms of the MoU, the parties involved plan to construct pumped storage projects with a minimum capacity of 2 GW and renewable energy projects, including ground-mounted or floating solar, with a minimum capacity of 1 GW. GRIDCO, being the nodal organization, will be responsible for the implementation of the Odisha Renewable Energy Policy, 2022.

Moreover, GRIDCO will have priority in procuring the capacity based on the prevailing demand. NHPC has also entered into agreements with the government of Maharashtra to develop four pumped storage projects with a total capacity of 7,350 MW. These agreements were signed earlier in June. Furthermore, NHPC has identified Andhra Pradesh, Jharkhand, Karnataka, and Madhya Pradesh as target states for the development of pumped storage facilities. In a separate initiative, NHPC had previously published a tender to select a solar power developer for the establishment of 3,000 MW ISTS-connected solar power plants anywhere in India.

In another significant move, GRIDCO and the Solar Energy Corporation of India (SECI) have signed an electricity Sale Agreement, wherein GRIDCO will purchase 600 MW of wind electricity from SECI.

This collaboration will further strengthen the renewable energy landscape in Odisha. Overall, these strategic partnerships and initiatives signify a major step towards the promotion and expansion of clean energy projects, including hydropower, solar power, and wind power, in the region.

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