Rs.2,000+ crore project to generate 600 MU of energy per year
India’s premier hydropower company NHPC Ltd has signed Promoters Agreement with Green Energy Development Corporation of Odisha Ltd (GEDCOL) for development of 500 MW Floating Solar Projects on different water bodies in Odisha, Ministry of Power said on 6 Jan 2022.
With signing of Promoters Agreement on 4 Jan 2022, NHPC and GEDCOL are to jointly establish a company for implementation of 500 MW Floating Solar Power Projects in Odisha and other such projects in subsequent periods as may be decided by the JVC from time to time as per Indian Government directions.
NHPC and GEDCOL will hold 74:26 equity shareholding in the proposed Joint Venture Company which will have an Authorised Share Capital of Rs.500 crore and the initial paid up Share Capital of Rs.10 crore.
The first 300 MW Floating Solar capacity will be installed in the reservoir of Rengali H.E. project to be implemented under Ultra Mega Renewable Energy Power Park (UMREPP), Mode 8 of Solar Park Scheme.
The Rs.2,000+ crore project will generate about 600 MU of energy per year.
The project, first of its kind in Odisha and largest in the country so far, will help the State to meet its renewable energy generation target and purchase obligation besides creating investment and employment opportunities. fiinews.com
