Azure to set up country’s first MW scale solar grid in Odisha

Bhubaneswar July 30: The
Green Energy Development Corporation of Odisha and the Central Electricity
Supply Utility of Odisha on Saturday signed a 25 year Project Implementation
Agreement with Azure Power Mercury Private Ltd, to develop the country’s first
grid connected  MW scale roof-top solar
project on net metering basis. This project, with a minimum capacity of 4 MW,
will be set up across more than 100 Government buildings in Bhubaneswar and
Cuttack.

The project will mobilise
around Rs 35 crore of private investment, and will be implemented by availing
central financial assistance through MNRE.

International Finance
Corporation, a member of the World Bank Group, has been assisting GEDCOL over
the last three years to conceptualise and structure this project, and to
mobilize credible private investors. The European Union is extending its
cooperation to this impactful programme in Odisha through the EU-India
Cooperation on Clean Technologies and Energy Efficiency for Eco-Cities.

“Odisha Government has
taken a lead in developing the country’s first grid connected net metering
project on a PPP basis. This project marks an important milestone in the
development of roof-top solar program in Odisha. Since 2013, we have worked
intensively with IFC, to develop the enabling framework and regulations, to
bring all stakeholders together, and design this project,” said Odisha Energy
Secretary Rajesh Verma.

IFC’s India Country
Head said the first-of-its-kind PPP project, where IFC came in as the principal
transaction advisor, will open up a new market leading to consumer-led roof-top
solar proliferation not just in Odisha but in the whole country.

The Government is
planning to replicate the model in other cities- Berhampur, Chhatarpur,
Rourkela, Sambalpur, Hirakud and Burla in the next phase.