Grid Corporation of Odisha (GRIDCO) has invited bids from intra-state off-takers to buy 500 MW of solar power through a tariff-based competitive bidding process with a greenshoe option. The last date for the submission of bids is January 16, 2024. Bids will be opened on January 17. GRIDCO foresees a significant increase in renewable energy power transactions by various entities in the coming years. Considering its planning for renewable power procurement, there is a potential for GRIDCO to possess a reserve of 500 MW of solar power starting from the fiscal year 2025-26. The additional reserve power is being made available by GRIDCO to diverse industries within the state through the tender.