Avaada Energy, an arm of Avaada Group, has secured a 280 MW (DC) solar project from Rajasthan Urja Vikas Nigam Ltd (RUVNL). It will set up this state transmission grid-connected PV power project in Rajasthan.
The company won the project through tariff-based competitive bidding in an auction by RUVNL.
As per the bid terms, the project will supply the generated solar power to RUVNL for 25 years at a tariff of INR 2.62 ($0.032)/kWh.
The commissioning period is 18 months from the award of the project.
“The plant is estimated to generate about 500 million units per annum, which will help to reduce 4,65,500 tons of CO2 equivalent emissions annually. The solar project can potentially power 3.6 lakh households with green energy,” stated Avaada.
Avaada Group is an integrated energy enterprise with business interests ranging from manufacturing of solar modules and electrolyzers to renewable power generation, green hydrogen, and green ammonia production. Currently, it operates a renewable energy portfolio of 4 GW with plans to reach 11 GW by 2026 and 30 GW by 2030. It has diversified into the production of electrolyzers, green hydrogen, and green ammonia. The Group has also expanded its footprint into the solar PV supply chain with the manufacturing of solar cells and modules.
GPSC, a subsidiary of Thailand-based PTT Group, is a strategic investor in Avaada Energy.
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