Avaada Energy, an arm of Avaada Group, announced this week it has secured a 1.4 GW (DC) solar project through an e-reverse auction conducted by NHPC Ltd, the renewable energy implementing agency of the government of India.
Avaada Energy won the project by quoting a winning tariff of INR 2.53 ($0.0304) per kWh. The ensuing power purchase agreement (PPA) will span a period of 25 years, with the ambitious project slated for completion within a 24-month timeframe.
“Upon commissioning, the solar facility is projected to produce an estimated 2,500 million units of renewable energy each year, contributing significantly to India’s green energy supply and powering nearly 1.8 million rural households,” stated Avaada Energy.
The project is expected to help offset over 2.3 million tons of CO2 emissions annually.
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