SECI and OHPC Sign Binding Term Sheet for 50:50 Joint Venture Floating Solar-BESS Projects

SECI and Odisha Hydro Power Corporation Limited (OHPC) have signed a Binding Term Sheet for jointly developing large-scale Floating Solar PV projects integrated with Battery Energy Storage Systems (BESS) across various reservoirs in Odisha (through a 50:50 JV partnership), with power offtake envisaged through GRIDCO.

The Term Sheet was signed by Shri Sivakumar V Vepakomma, Director (Power Systems), SECI, and Shri Amiya Kumar Mohanty, Director (Operations), OHPC in the August presence of the Hon’ble Chief Minister, Shri Mohan Charan Majhi, Hon’ble Deputy Chief Minister of Odisha, Shri Kanak Vardhan Singh Deo, Shri Akash Tripathi, Managing Director, SECI and Shri Vishal Kumar Dev, Additional Chief Secretary, Energy Department, Government of Odisha.

With an estimated floating solar potential of around 12 GW in Odisha, this strategic partnership aims to harness the state’s vast reservoir resources. SECI and OHPC are targeting approximately 3 GW of renewable energy capacity under CAPEX mode by 2030.

This initiative is also an important milestone towards SECI’s ambitious 10 GW own projects capacity addition target by 2030, further strengthening its role in developing and owning large-scale renewable energy assets.

The collaboration will integrate floating solar and battery storage to facilitate reliable, clean, and dispatchable green power, particularly during peak demand hours, while strengthening Odisha’s energy security.