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Solar Energy Corporation of India Limited (SECI), a government entity under the Ministry of New and Renewable Energy in India, has recently entered into a Power Sale Agreement (PSA) with GRIDCO Odisha, the state-owned power utility of Odisha. This agreement entails the purchase of 600 MW of wind power from SECI as part of Tranche – XIII of the ISTS (Inter State Transmission System) Connected Wind Power Projects Scheme.
The primary objective of the ISTS scheme, initiated by the Ministry of New & Renewable Energy, is to enable the transmission of renewable energy generated in states with ample resources to states that have a deficit in renewable energy resources.
The signing of the agreement between SECI and GRIDCO took place in Bhubaneshwar, witnessed by the Additional Chief Secretary of the Department of Energy, Government of Odisha, N. B. Dhal. The Odisha Electricity Regulatory Commission has already provided in-principle approval for GRIDCO’s procurement of 600 MW of wind power. The power is scheduled to be commissioned within 24 months from the signing of the Power Purchase Agreement (PPA) with the project developers.
Developers from Gujarat, Karnataka, and Maharashtra are expected to contribute to the installation of the aggregate capacity of 600 MW for this project. SECI, as a Miniratna Category-I Central Public Sector Enterprise, plays a crucial role in implementing renewable energy schemes and projects as per the Ministry’s objectives in fulfilling India’s international commitments.
SECI has a significant track record, having awarded over 58 GW of renewable energy project capacity to date. It not only facilitates projects through its own investments but also acts as a Project Management Consultant (PMC) for other public sector entities. SECI boasts an ICRA credit rating of AAA.
GRIDCO Limited, on the other hand, is primarily involved in the bulk purchase and sale of power to four distribution companies within Odisha, as well as trading surplus power with neighboring states.
This collaboration between SECI and GRIDCO marks a significant step towards promoting renewable energy adoption and bridging the renewable energy deficit in Odisha through the procurement of wind power.