Avaada Energy Secures a Major Solar Power Project in an NTPC Auction

In a tender issued by the Renewable Energy Implementing Agency (REIA) and the National Thermal Power Corporation (NTPC), Avaada Group received a 1050 MWp capacity for developing a solar project in India. The company has secured the project at a competitive tariff of USD 0.032 (INR 2.69) per kWh through a competitive bid, expected to be completed within 24 months of signing the 25-year Power Purchase Agreement (PPA).

Once commissioned, the solar project is expected to generate approximately 1800 million units of renewable energy annually, significantly contributing to India's green energy supply and powering more than 12,00,000 households.

The company has reached a remarkable milestone by achieving Letters of Award and PPAs for over 15 GWp in India. Furthermore, the company is developing more renewable power projects across India.

This initiative is projected to significantly reduce carbon emissions, with an expected annual CO2 reduction of approximately 16,81,200 metric tons, aligning with India's climate objectives. This project will add substantial value to Avaada’s growing footprint in the renewable energy landscape. 

Find Solar Power Projects and Tenders in IndiaGet Started Now!

Mr. Vineet Mittal, Chairman of Avaada Group, expressed his pride in the company's achievement, stating, “We are incredibly proud to have won the single largest bid of 1050 MWp from NTPC. This achievement not only highlights our capability to execute large-scale renewable energy projects but also reinforces our unwavering commitment to supporting India’s transition to a sustainable energy future.” 

Avaada’s Upcoming Renewable Power Projects

Avaada Energy has secured several renewable energy projects across India. Here are the details:

Solar Projects: Avaada Energy has secured solar projects with a total capacity of 1400 MW. These include a 421 MW project from SECI, a 280 MW project from GUVNL, and a 700 MW project from NTPC. These projects are scheduled for development in Gujarat and Rajasthan. The power purchase agreements for these projects will span 25 years and are slated for completion within 24 months.

Additional Projects: Avaada Group plans to invest USD 5 billion to develop 6 GW of renewable energy projects in Gujarat. Additionally, the group is working on three more projects with a capacity of around 1000 MW. This includes a USD 180 million facility to generate 320 MW of renewable energy in Surendra Nagar, a 400 MW capacity plant, and a facility in Jamnagar district. These projects are part of Avaada Energy's larger goal of achieving 30 GW capacity by 2030.

Read: Waaree Energies will supply 445 MW of Solar Modules to Statkraft India

Connect with decision-makers on Solar PV projects in India for business opportunities.

Subscribe to upcoming and ongoing Solar PV projects and tenders database in India to get access to reliable and high-quality insights on upcoming, in-progress, and completed Solar PV projects in India.

Our user-friendly platform provides essential details, timely updates, key stakeholder contact information, and business opportunities tailored for engineering companies, industry professionals, investors, and government agencies.

Start a free demo to take your business to the next level!