IBC SOLAR completes 27 MW solar plant in Odisha
(Sourced from PTI)
IBC SOLAR, a global leader in photovoltaic (PV) systems and energy storage, has completed a 27 MW (DC) solar plant near Kesinga in Odisha. While states like Rajasthan, Telangana, and Andhra Pradesh have a large share of solar power with over 2 Gigawatts installed capacity, Odisha lags behind with approximately 90 MW installed capacity and has recently begun to try and pick up speed.
With the newly connected PV plant, IBC SOLAR is supporting Odisha to increase its share of solar power by around 30%. This is an important step for the economic development in Odisha and, in particular, for Kalahandi district where the new solar plant is situated.
Shailendra Bebortha, Managing Director of IBC Solar in India, explained that this project will bring western Odisha prominently in the solar map of India and contribute to increasing the standard of living in the area by creating many local opportunities both during the construction and operations phase. He also thanked all the Contractors, State Government departments, SECI, lenders, and local public for this success.
IBC SOLAR's Sadipali project is part of a 270 MW PV tender floated by Solar Energy Corporation of India (SECI) in Odisha in August 2016, and a 25-year PPA was awarded to IBC SOLAR through a competitive reverse auction process.
Non-recourse project financing was concluded with L&T Infrastructure Finance Company Limited in March 2017. Following the securement of 111 acres of land in August 2017, the local electric power transformation substation had to be upgraded to manage the soon-to-be generated energy, a transmission line for approximately 8 km was built, and construction of the solar plant then started in November 2017.
"With this project, we have consolidated a strong know-how in project development, land securitization, and grid connection in Odisha, a state with a high potential for solar PV build-up," said Jose Maria Llopis, CEO of IBC SOLAR Energy GmbH.