Home Energy GEDCOL Signs Pact with NHPC

GEDCOL Signs Pact with NHPC

Bhubaneswar: A promoter’s agreement has been signed between NHPC a Central Miniratna PSU and GEDCOL, a fully owned subsidiary of Gold Rated State PSU OHPC, to form a Joint Venture Company for production of solar power from floating installations in different reservoirs of the state of Odisha with a total capacity 500 MW.

The agreement was signed by Bishnupada Sethi, Chairman, OHPC, NHPC CMD A K Singh & CMD GEDCOL here in the presence of Energy Minister Energy Dibya Shankar Mishra (Over Video Conferencing).

In the first stage, 300 MW capacity will be installed in the reservoir of Rengali HE Project. The project will be implemented under UMREPP mode and scheme of MNRE Department of the Union Government which provides for one time central financial assistance to the developers and an annual facilitation fee to be paid to the state government throughout the life of the project.

The first stage of the project will have an outlay exceeding Rs.2000cr and will generate 600 MU of energy per year.

It is first of its kind in the state and largest in the country so far .

The project will help the state to meet its renewable energy generation target and purchase obligation besides creating investment and employment opportunities.

More such projects are being planned in Hirakud and other reservoirs of the state.