Clean and renewable energy: a bright future for India

Solar Energy Corporation of India (SECI) has recently announced the signing of a Power Sale Agreement with GRIDCO Odisha to supply 600 MW Wind Power. This agreement is part of SECI’s commitment to promote clean and renewable energy sources in India. The deal will enable GRIDCO Odisha to receive electricity from SECI’s wind power projects located across the country, at competitive prices. This is an important step towards achieving the government’s goal of providing 24×7 affordable and reliable power to all citizens by 2022.

GRIDCO Odisha and Solar Energy Corporation of India Limited (SECI), Ministry of New and Renewable Energy, Government of India, have signed a Power Sale Agreement (PSA) under which GRIDCO Odisha will purchase 600 MW of wind power from SECI under Tranche-XIII of ISTS (Inter State Transmission System) Connected Wind Power Projects Scheme. Power generated in a state with abundant renewable energy resources could be transported to a state with inadequate renewable energy resources under the ISTS programme of the Ministry of New & Renewable Energy. The agreement between SECI and GRIDCO was signed in Bhubaneshwar today, June 9, 2023, in the presence of Additional Chief Secretary, Department of Energy, Government of Odisha, N. B. Dhal.

The 600 MW wind power purchase by GRIDCO has already received preliminary permission from the Odisha Electricity Regulatory Commission. Within 24 months of the date the Power Purchase Agreement (PPA) with Project Developers was signed, power is expected to be commissioned. Developers located in Gujarat, Karnataka, and Maharashtra are projected to install the combined capacity of 600 MW.

The Union Ministry of New & Renewable Energy oversees SECI, a Miniratna Category-I Central Public Sector Enterprise founded in 2011. To achieve India’s obligations under international agreements, it serves as the Ministry of Renewable Energy’s main implementing agency for programmes and projects.

Over 58 GW of renewable energy project capacity have been awarded by SECI thus far. As a Project Management Consultant (PMC), SECI also participates actively in the establishment of projects through its own investments and for other public sector organisations. ICRA has assigned SECI a AAA credit rating.

GRIDCO Limited is now involved in bulk power purchases and sales to the four distribution companies within the State of Odisha as well as trading surplus power through traders to encourage power exchange with surrounding States in the nation.