Avaada Energy secures 1,050 MWp solar project in NTPC auction

Avaada Energy announced on Thursday that it has successfully secured a solar project with a capacity of 1,050 megawatt peak (MWp) through a competitive bidding process conducted by NTPC, a Renewable Energy Implementing Agency (REIA). This bid is the largest price awarded by Avaada Energy in NTPC's recent tender.

The company has completed this project at a rate of Rs 2.69 per kilowatt hour (kWh). The project is expected to be completed within 24 months of signing the 25-year Power Purchase Agreement (PPA), as stated by Avaada Energy in a press release.

With the addition of this latest project, Avaada Energy's portfolio now spans 15 gigawatts (GW) of projects, including letters of award and PPAs across India. Vineet Mittal, Chairman of Avaada Group, expressed his pride in winning this important bid and highlighted the team's dedication and innovation, which contributed to crossing the 15 GWp milestone.

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