Grid Corporation of Odisha (GRIDCO) has invited bids to allocate water-surface areas at the Rengali Reservoir in Odisha for setting up floating solar projects for captive use.

The allocation will be made through a premium-based competitive bidding process. The total water surface area available at the reservoir is 5,195 acres.

Bids must be submitted by December 30, 2025. Bids will be opened on the same day.

Bidders must furnish an earnest money deposit of ₹200,000 (~$2,255)/acre and a tender document fee of ₹11,800 (~$133), comprising ₹10,000 (~$113). Successful bidders must submit a performance bank guarantee of ₹1 million (~$11,280)/acre.

Selected bidders are responsible for the development, ownership, and operation of the projects on a build-own-operate basis. The scope of work includes the allocation of water surface, preparation of the detailed project report (DPR), obtaining statutory and regulatory clearances, execution of lease agreements, development of grid connectivity, and full project execution.

The projects will use floating solar photovoltaic technology, with the water surface to be leased by Odisha’s Department of Water Resources, and the lease process facilitated by GRIDCO. Power evacuation is required at a minimum interconnection voltage of 132 kV, and metering will be carried out in accordance with the applicable Grid Code and prevailing regulations.

The project must be completed within 18 months from financial closure or 22 months from the date of issuance of the letter of intent, whichever is earlier. The DPR must be submitted within 45 days of issuance of the letter of award, followed by approvals, lease execution, and commissioning in line with Odisha’s floating solar guidelines.

Bidders must have an existing or proposed industry in Odisha with captive power consumption, supported by proof of consumption or a declaration along with investment approval.

Bidders must mandate a minimum net worth of ₹2 million (~$22,560)/acre in the financial year 2024–25.

Liquidated damages include forfeiture of premium, lease rent, and performance security for uncommissioned capacity in case of delays or failure to complete the projects.

In April this year, GRIDCO invited expressions of interest from consumers with a contract demand of at least 500 kW, expressing their willingness to meet their power demand through renewable energy.

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