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National Thermal Power Corporation (NTPC) and Grid Corporation of Odisha (GRIDCO) signed a Power Sale Agreement (PAS) in Bhubaneswar for the purchase of clean energy.
According to a GRIDCO press release, the PSA was signed here in the presence Nikunja Dhal, Principal Secretary for Energy.
GRIDCO will purchase 200 MW of solar energy at Rs 2.50 per KWh through Inter State Transmission System, (ISTS), starting FY-2024-25 and lasting for 25 years.
This contract is for State consumption and the lowest priced solar power. GRIDCO will be able to fulfill its Renewable Purchase Obligations in the future by taking advantage of this power.
Trilochan Panda and G B Swain, Director, F&CA, and Umakanta Shoo, Director, T&BD of GRIDCO Limited, and M K Singh, CGM and Subodh Pradhan; AGM and G C Mahapatra; AGM of NTPC Limited, and Lipsa Das, Additional Secretary and Sambit Parija. FA-Cum–Addl. The Secretary Energy Department was present at the event.
GRIDCO operates exclusively in Odisha and is engaged in transmission and bulk supply. The Odisha Electricity Regulatory Commission, (OERC), had ordered eight solar power developers last December to amend their Power Purchase Agreements with GRIDCO.
The reason was that GRIDCO would have to pay penalties for failing to meet the renewable purchase obligation targets. GRIDCO signed PPAs in August 2010 with eight solar power developers, to purchase 1MW of each.