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GRIDCO Issues Tender for 225 MW Floating Solar Project in Odisha

Grid Corporation of Odisha (GRIDCO) has invited bids for the development of a 225 MW floating solar power project at the Upper Indravati Reservoir in Odisha, marking one of the state’s largest floating solar initiatives to date.

The project will be developed at the Upper Indravati Solar Park and has been structured into three independent units of 75 MW each. The floating solar installations will be set up on the designated water body within the reservoir, with GRIDCO, the Government of Odisha and Odisha Power Transmission Corporation facilitating access to the required water surface and near-shore land.

Bids for the project must be submitted by April 27, 2026, and are scheduled to be opened on April 28, 2026.

Under the tender conditions, bidders are required to furnish an earnest money deposit of Rs 85.3 million for bidding on a 75 MW capacity and Rs 170.6 million for 150 MW capacity, along with a tender document fee of Rs 50,000, excluding applicable taxes. Successful bidders will be required to submit a performance bank guarantee of Rs 213.2 million for 75 MW and Rs 426.4 million for 150 MW.

The scope of work includes the design, development, financing, installation, operation and maintenance of the floating solar facilities. Power generated from the project will be evacuated through a 33/220 kV pooling substation, with further connectivity provided through a 220 kV double-circuit transmission line linked to the 220/400 kV Upper Indravati Hydroelectric Project switchyard.

To qualify, bidders must have prior experience in developing or executing engineering, procurement and construction contracts for at least one renewable energy project of a minimum 50 MW capacity that was commissioned within the last five years. The minimum net worth requirement has been set at Rs 852.9 million for bidding 75 MW and Rs 1.71 billion for bidding 150 MW.

The power purchase agreement for the project will be valid for a period of 25 years from the scheduled commercial operation date of each unit, with operation and maintenance obligations extending throughout the PPA term. The tender also mandates compliance with the Approved List of Models and Manufacturers for the solar modules and cells used in the project.

The tender follows GRIDCO’s recent move to invite bids for allocating water-surface areas at the Rengali Reservoir in Odisha for the development of floating solar projects for captive consumption, highlighting the state’s growing focus on leveraging water bodies for large-scale renewable energy deployment.