Hindustan Cleanenergy Ltd is planning to set up a 50 MW grid interactive solar PV project in Odisha.
HCeL, a part of Hindustan Powerprojects Pvt Ltd, has submitted the proposal to State Energy Secretary P K Jena stating that the proposed project would open many other business avenues to explore and venture in to state by bring in an investment of about Rs.400 crore besides promoting renewable energy.
According to HCeL, the project would also help the state to mitigate solar purchase obligation as provided by Odisha Electricity Regulatory Commission. The company has planned to sign a 25 year long-term power purchase agreement with GRIDCO, the bulk power supplier of the state, to sell the generated power.
HCeL was associated with a 5 MW solar farm in Bolangir which was commissioned in February 2012. The company has to its credit a portfolio of over 300 MW of commissioned solar projects in India and abroad.
As part of its major expansion plan, the company is heading towards an installed capacity of over 500 MW of solar power generation by the year-end and one gigawatt (1000 MW) by 2016.