Grid Corporation of Odisha (GRIDCO) has signed a power sale agreement (PSA) with NTPC Limited in Bhubaneswar for the purchase of clean energy.
Under the PSA, GRIDCO would acquire 200 MW of solar power through the inter-state transmission system at a price of Rs 2.50 per kWh. The procurement period will be for 25 years, beginning in the financial year 2024-25. As per the statement, this is the state’s cheapest solar power contract for consumption. GRIDCO intends to meet its renewable purchase obligations in the near future with the addition of 200 MW. By the end of 2022, the Odisha Renewable Energy Policy has set a target of 2,200 MW of additional solar power capacity, which comprises rooftop solar projects and non-land based installations.