Bhubaneswar: GRIDCO signed an RE banking agreement with M/s ReNew E-Fuels Private Limited for 50 MW & M/s UltraTech Cement Ltd for 6.25 MW, in presence of Deputy Chief Minister, Minister of Energy, Kanak Vardhan Singh Deo. It will foster our commitment to advancing Odisha’s RE adaptation and Green Hydrogen (Green Ammonia) landscape and paving the way for a sustainable and prosperous future.
Deputy CM Sh Singh Deo said that the agreement reinforces Odisha’s leadership & commitment focused towards Industrial development, backed by strong policies, robust green infrastructure & strategic seaports in the backdrop of growing industrial demand. So far we have approved 14 Green Hydrogen/Ammonia Projects in the state, with a proposed investment of approximately Rs.2 Lakh Crores. These projects are expected to generate employment opportunities for 22,000 people.
Principal Secretary Vishal Dev said that, since the Generation from the RE sources such as solar and wind are highly intermittent in nature and dependent on the weather conditions, Banking of RE Power allows the RE consumers to bank the energy during surplus generation and utilize / draw the banked energy during lean RE period.
Odisha has embraced a comprehensive and forward-thinking approach to RE development under the Odisha Renewable Energy Policy, 2022 and OERC (Promotion of Renewable Energy through Green Energy Open Access) Regulations, 2023. The objective of the regulations is to Promote Green Energy through Open Access, allowing Banking of the same and also to promote production of Green Hydrogen or Green Ammonia or their derivatives and the policy provides various opportunities and incentives for setting up of RE Projects in our State.
MD, GRIDCO Satyapriya Rath, representatives from ReNew, Ultra Tech Cement, senior officers from Energy Department, GRIDCO were present during the agreement signing.
