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GEDCOL, NHPC sign MoU to develop floating solar power projects in Odisha

Bhubaneswar, Jul 20 (PTI) In a bid to develop floating
solar power projects with a total capacity of 500 MW, the
Green Energy Development Corporation of Odisha Limited
(GEDCOL) and the National Hydroelectric Power Corporation
(NHPC) on Monday signed an agreement to form a joint venture
company, an official said.
The JVC will implement the project in a phased manner
in various reservoirs of Odisha in joint venture mode under
Ultra Mega Renewable Energy Power Parks (UMREPPs) scheme of
the Ministry of New and Renewable Energy.

In Odisha, where availability of large and contiguous
patches of non-forest, non-agricultural, barren lands suitable
for land based solar projects are limited, floating solar
projects can be a game changer, said GEDCOL Chairman-cum-
Managing Director, B P Sethi.

The floating solar projects have an inherent advantage
of conservation of land and the related cost to acquire and
maintain the site, Sethi said.
Other advantages include decrease of
temperature-related losses due to cooling effect and reduction
of water evaporation.

The memorandum of understanding (MOU) will help the
state in achieving the targets set under the Odisha Renewable
Energy Policy, 2016 for setting up 2,200 MW solar and 550 MW
non-solar renewable projects by 2022.

The present renewable energy installed capacity of the
state is divided between solar power at 362 MW and 77 MW
energy from non-solar sources, he said.
The GRIDCO is further procuring 75 MW solar and 150 MW
wind power from outside, the official said.

The state requires another 2,000 MW solar capacity
(1,000 MW towards Solar RPO (Renewable Purchase Obligation)
and 1,000 MW for Non-Solar RPO converted to Solar RPO) by 2020
to meet the RPO trajectory set by the Ministry of New and
Renewable Energy.

“The total estimated investment will be to the tune of
Rs 2,500 crore. The incubation period for conceiving each
special purpose vehicle (SPV) project would be around 7-8
months and the approximate completion time for each conceived
project will be about 18 months,” Sethi said.

The first phase work of the project is likely to be
commissioned by March, 2022, he said.

The development of floating solar projects in Odisha
will be a win-win proposition for the people as it would
generate employment, lessen the requirement of land and
evaporation of water.

Installation of floating solar power plants over
natural water resources will reduce evaporation loss thereby
avoiding the loss of water. So floating solar development
initiative will be helpful in providing food and energy
security to the state, he said.

Energy minister D S Mishra, during signing of the MoU
through video conferencing, congratulated both the
organisations and expressed hope that the agreement would
boost the renewable energy aspirations of the state. PTI AAM

Disclaimer :- This story has not been edited by Outlook staff and is auto-generated from news agency feeds. Source: PTI

Read More: GEDCOL, NHPC sign MoU to develop floating solar power projects in Odisha

2020-07-20 13:26:02

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