NHPC has signed promoters agreement with Green Energy Development Corporation of Odisha (GEDCOL) on January 4, 2022 for formation of JV Company for development of 500 MW floating Solar Power Projects in various water reservoirs in the State of Odisha
The Parties decide and agree to jointly establish a Company under the name of ‘Odisha Solar Power Development Company’ or any other name as may be approved by Registrar of Companies upon the terms & conditions contained in Promoters Agreement, for implementation of 500 MW Floating Solar Power Projects in Odisha and explore further potential of installing floating solar projects after joint identification in subsequent periods in Odisha State and plan such other Solar Projects as a developer or under any other arrangement as may be decided by the JVC from time to time as per Gol directions. The total equity of NHPC/NHPC Associate in the Company shall be 74% and the total equity of GEDCOL in the Company shall be 26%.
NHPC is engaged in electric power generation by hydroelectric power plants. The company is also engaged in contracts, project management and consultancy works.
