Avaada Energy, an arm of Avaada Group, has won a 421 MW (DC) solar project in an auction conducted by REC Power Development and Consultancy Ltd on behalf of Damodar Valley Corp. (DVC). The project, to be developed anywhere in India, will be connected to the inter-state transmission system and supply power to DVC under a 25-year power purchase agreement.
DVC is a government-owned company that generates and distributes power in the Damodar River area of West Bengal and Jharkhand in Eastern India.
The project was awarded through competitive bidding followed by an e-reverse auction. Avaada emerged winner with a quoted tariff of INR 2.70 ($0.03)/kWh.
The project is scheduled for commissioning within 18 months from the award of the contract. It is expected to generate about 750 million units of electricity annually, which will help reduce 6,98,250 tons of CO2 equivalent emissions per year.
Avaada Group is an integrated energy company with business interests ranging from the manufacturing of solar modules and electrolyzers to renewable power generation, green hydrogen, and green ammonia production.
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