Avaada Energy, a prominent entity in the renewable energy sector and part of the Avaada Group, has achieved a significant milestone by winning a bid for a 1050 MWp solar project in a tender by the Renewable Energy Implementing Agency (REIA) National Thermal Power Corporation (NTPC). This achievement underscores Avaada’s expertise and commitment to advancing India’s renewable energy goals.
The company secured the 1050 MWp capacity at a competitive tariff of INR 2.69 per kWh, with the project expected to be completed within 24 months of signing a 25-year Power Purchase Agreement (PPA). This victory highlights Avaada Energy’s capability to deliver large-scale renewable projects efficiently.
Additionally, Avaada Energy has attained Letters of Award and PPAs for over 15 GWp in India, reflecting its dedication to enhancing the nation’s renewable energy landscape. Vineet Mittal, Chairman of Avaada Group, expressed pride in the achievement, noting that it reinforces the company’s commitment to supporting India’s sustainable energy transition.
The project is expected to generate approximately 1800 million units of renewable energy annually, powering over 1.2 million households and reducing CO2 emissions by about 16,81,200 tonnes annually. This initiative not only contributes significantly to India’s green energy supply but also aligns with the country’s climate objectives, enhancing Avaada’s presence in the renewable energy sector.
