Solar Energy Corporation of India (SECI) and Odisha Hydro Power Corporation Limited (OHPC) have signed a Binding Term Sheet to jointly develop large-scale floating solar photovoltaic (PV) projects integrated with battery energy storage systems (BESS) across reservoirs in Odisha. The projects will be developed through a 50:50 joint venture, with power offtake envisaged through GRIDCO.
The two sides are targeting about 3 GW of renewable energy capacity under capital expenditure (CAPEX) mode by 2030. Odisha has an estimated floating solar potential of around 12 GW, and the partnership aims to harness the state’s reservoir resources.
Signing
The term sheet was signed by Sivakumar V Vepakomma, Director (Power Systems), SECI, and Amiya Kumar Mohanty, Director (Operations), OHPC. It was signed in the presence of Odisha Chief Minister Mohan Charan Majhi and Deputy Chief Minister Kanak Vardhan Singh Deo. Akash Tripathi, Managing Director, SECI, and Vishal Kumar Dev, Additional Chief Secretary, Energy Department, Government of Odisha, were also present.
Strategic fit
The initiative is also a milestone towards SECI’s target of adding 10 GW of its own project capacity by 2030, which it said will strengthen its role in developing and owning large-scale renewable energy assets.
The collaboration will combine floating solar with battery storage to supply reliable, clean and dispatchable green power, particularly during peak demand hours. It is also meant to strengthen Odisha’s energy security.
Investment proposals
At the summit, held at Bharat Mandapam in New Delhi, Odisha secured prospective investment proposals worth about Rs 1,17,557 crore through 18 memorandums of understanding (MoUs). These represent a tentative capacity addition of around 11,742 MW. The proposals span pumped storage, solar, wind, hybrid renewable energy, battery storage, green hydrogen, green data centres and other emerging technologies.
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