Avaada Energy, an arm of Avaada Group, has secured the Letter of Award to develop 820 MWp of hybrid renewable energy capacity connected to the interstate transmission grid. The project was awarded by SJVN. It had won the project in the recent e-Reverse Auction (e-RA) held in June 2024.
Avaada is expected to set up a total of 820 MWp of solar and wind capacity against the hybrid renewable capacity awarded by SJVN Ltd. These renewable projects will connect to the inter-state transmission system and deliver power to state-owned distribution companies through the high voltage transmission system of the national grid.
The projects are expected to be completed within 24 months.
SJVN will sign a 25-year power purchase agreement (PPA) with Avaada.
Upon commissioning, these projects are expected to generate an estimated 1,600 million units of renewable energy annually.
Avaada Group is engaged in renewable energy generation, solar PV manufacturing, development of green fuels including green ammonia, green methanol, and sustainable aviation fuel, and providing energy storage solutions. Avaada Energy, its renewable power generation arm, aims to achieve 11 GWp capacity by 2026. Avaada has attracted significant international investments, including a fund commitment of $1.3 billion in 2023, with a $1 billion commitment from Brookfield’s Energy Transition Fund and $300 million from GPSC, PTT Group of Thailand.
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