Avaada Energy, a subsidiary of the Avaada Group, announced on Tuesday that it has been awarded a 280-megawatt (MW) project in a tariff-based competitive bidding process conducted by Rajasthan Urja Vikas Nigam Limited (RUVNL). The company's official press release stated that the solar power produced from this project will be supplied to RUVNL at a tariff of Rs 2.62 per unit for 25 years.
The project is expected to generate approximately 500 million units of clean energy per year, resulting in a reduction of 465,500 tonnes of carbon dioxide equivalent emissions annually. This is a significant milestone for Avaada Energy, which is committed to making a significant contribution to India's green energy sector.
See also: Avaada secures $1.07bn for Green Hydrogen and Ammonia projects in India
Kishor Nair, CEO of Avaada Energy, stated, “We are confident that these types of projects, which are created in partnership with the government, will lead India towards a more sustainable future.” The company anticipates that the project will be commissioned within 18 months and will be capable of providing green energy to 360,000 households.
The awarding of this project to Avaada Energy underscores the company's dedication to increasing India's renewable energy capacity while also benefiting the environment. This project will not only generate significant quantities of clean energy but will also create employment opportunities and contribute to the country's economic growth.
