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SECI, GRIDCO Odisha Sign Power Sale Agreement For 600 MW Wind Power Procurement
The Odisha Electricity Regulatory Commission has already granted in-principle approval for the procurement of 600 MW of wind power by GRIDCO Odisha
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The Solar Energy Corporation of India Limited (SECI) and GRIDCO Odisha, the government agency responsible for power distribution in Odisha, have inked a significant Power Sale Agreement (PSA) for the procurement of 600 MW of wind power. This agreement falls under Tranche – XIII of the Inter State Transmission System (ISTS) Connected Wind Power Projects Scheme.
The Odisha Electricity Regulatory Commission has already granted in-principle approval for the procurement of 600 MW of wind power by GRIDCO Odisha. The power is expected to be commissioned within 24 months from the date of signing the Power Purchase Agreement (PPA) with Project Developers.
Developers based in Gujarat, Karnataka, and Maharashtra are likely to install the aggregate capacity of 600 MW. SECI, a Miniratna Category-I Central Public Sector Enterprise under the Union Ministry of New & Renewable Energy, will oversee the implementation of the project as the primary implementing agency for Renewable Energy schemes and projects in India, supporting the country's international commitments.
SECI has an impressive track record, having awarded Renewable Energy project capacities totaling over 58 GW to date. Additionally, SECI actively engages in setting up projects through its own investments and acts as a Project Management Consultant (PMC) for other public sector entities. The company holds an ICRA credit rating of AAA, further emphasising its credibility and reliability.
GRIDCO Limited, responsible for bulk purchase and sale of power within Odisha, as well as trading surplus power with neighboring states, will be the recipient of the 600 MW wind power procurement. This agreement signifies a significant step towards promoting the exchange of power and addressing the renewable energy deficit in Odisha.
The signing ceremony took place in Bhubaneshwar on 9 June 2023, with the presence of N. B. Dhal, the Additional Chief Secretary of the Department of Energy, Government of Odisha. The agreement marks a crucial step towards fulfilling the objectives of the Ministry of New & Renewable Energy's ISTS scheme, which allows power generated from renewable energy-rich states to be transmitted to states facing renewable energy deficiencies.