By Bizodisha Bureau, Bhubaneswar, November 27, 2018: Odisha government will soon auction 550 MW solar power capacity, officials sources said.

Gridco, the state-owned bulk power buyer cum trader, will float tenders for 300 Mw capacity while the Green Energy Development Corporation Ltd (GEDCOL) will float tender for the residual 250 Mw will be invited by another for developing solar parks on cluster mode.

A top Gridco official said, the auctions would be conducted on the reverse bidding mode.

Gridco’s bids for 200 Mw capacity were oversubscribed by more than four times. Aditya Birla Renewables emerged as the L1 bidder at auctions, quoting a tariff of Rs 2.79 per unit with which Gridco will soon sign a long-term power purchase agreement (PPA) spanning 25 years.

The Company will install five solar power plants of 15 Mw apiece at disparate locations. Odisha Industrial Infrastructure Development Corporation Ltd (Idco) will make available 375 acres land for the solar projects, the official said.

The price is competitive since auctions in Odisha were held following the announcement of safeguards duty on solar modules imports by the Government of India and also the quantum of solar radiation received by the state does not compare favourably with Rajasthan, Gujarat or Madhya Pradesh, the official added.

Gridco has scrapped the bids for 125 MW capacity as the L2 and L3 bidders did not soften their price quotes of Rs 3.19 per unit.

Gridco in August had signed a power sales agreement with the Solar Electrification Corporation of India (SECI). The pact is to buy 300 Mw from SECI’s upcoming auctions at an agreed price of Rs 2.57 per cent. The power is tipped to be fed to the state grid from 2019-20 end. According to the terms of the agreement with SECI, Gridco can draw this solar power without forking out transmission or wheeling charges.

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