Avaada Energy, the renewable energy arm of the Avaada Group, has emerged victorious in a game-changing e-Reverse auction conducted by NHPC, securing a monumental 1,400-MWp solar project in India.
In a recent press release, Avaada Energy proudly declared its success, achieved by presenting an enticingly economical tariff of INR 2.53 (equivalent to USD 0.030 or EUR 0.028) per kilowatt-hour. However, the announcement kept mum about the specific state where the colossal solar park is slated for construction.
The win not only adds a feather in Avaada's cap but also grants the company the privilege of entering into a 25-year power purchase agreement (PPA) for the project's anticipated energy output. The project's operational timeline is set at 24 months, ensuring a swift transition to renewable energy generation.
Once operational, this solar powerhouse is expected to produce a staggering 2.5 million megawatt-hours (MWh) of electricity annually, a volume sufficient to meet the annual energy needs of approximately 1.8 million rural households. Avaada Energy's accomplishment marks a significant step toward a greener, more sustainable energy future in India.
