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Updated February 9th, 2024 at 16:30 IST

Avaada Energy secures 1400 MWp in Solar Projects across India

The development projects are slated in Gujarat and Rajasthan

Reported by: Business Desk
Solar energy
Solar energy | Image:Pexels
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Avaada Energy has won 1400 MWp of solar energy projects in recent tenders by central and state government agencies, the company said on Friday.

The renewable energy subsidiary of Avaada Group has secured capacities of 421 MW, 280 MW, and 700 MW by state-owned agencies SECI, GUVNL, and NTPC, respectively, as per an official release.

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The projects, slated for development in Gujarat and Rajasthan, are aimed at expanding the company's renewable energy footprint across India.

Vineet Mittal, Chairperson of Avaada Group said, "Securing these solar projects highlights Avaada Energy's role as a frontrunner in India's renewable energy sector. With these latest additions, Avaada's portfolio now includes ~6 GW of projects under various stages of development, adding to our operational capacity of ~4.1 GW. This milestone not only reinforces Avaada's industry leadership but also our commitment to sustainable energy solutions that support India's green energy goals."

The Power Purchase Agreements (PPAs) with these agencies will span 25 years once finalised, which signifies a long-term commitment to sustainable energy generation. 

The SECI, GUVNL, and NTPC projects are anticipated to be completed within a 24-month timeframe, the company stated. 

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Upon commissioning, the solar installations are likely to generate about 2,410 million units of renewable energy annually, effectively powering over 1.72 million rural households in India.

This initiative is also projected to contribute significantly to reducing carbon emissions, with an expected annual carbon dioxide reduction of close to 2.24 million tonnes.

 

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Published February 9th, 2024 at 16:30 IST

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