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Now, Odisha will float large-scale solar power tenders

Now, Odisha will float large-scale solar power tenders
Pic Source: Business Standard

By BizLED Bureau

June 2, 2016: The Indian state of Odisha is all set to be a part of the long and speedily growing list of states across the nation to introduce or are preparing to introduce solar power tenders.

The Odisha Renewable Energy Development Agency (OREDA) is set to float tenders soon for large-scale solar power ventures. Two tenders of 450 MW and 50 MW are to be offered for interested developers to bid on. The ventures will be set up with an aim to assist Odisha in meeting its renewable acquirement obligation.

Now, Odisha will float large-scale solar power tenders

The ventures are to be developed under Phase II Batch IV of the National Solar Mission, in which potential project developers will obtain viability gap financial support. The government is planning to develop minimum 5 GW of solar parks under this proposal.

READ ALSO: Now, you can buy 9W LED bulb at Rs 85 in Odisha

In 2015, the state government had declared plans to install a 1 GW solar park. The faculty will be built in clusters at an approximate rate of Rs 6,500 crore or $1 billion. The intended tenders might well be division of this solar power park.

Lately, the central government augmented the objective for the solar share of whole electricity utilization from 3% to 8% by 2022. Consequently a number of state governments augmented their own solar ability addition targets, and declared plans to begin more solar tenders.

READ ALSO: UP govt waives VAT on LED bulbs under DELP

As a matter of fact, Odisha is one of the first states across the nation to auction solar projects particularly to meet the renewable energy requirement. Some time back it had auctioned a 5 MW solar venture which might be considered as the springboard of the steep drop in solar PV tariff bids that followed, and carry on even today. The scheme was won by a company at an extremely reduced tariff of Rs 7.00/kWh.

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