Avaada Energy wins 280 MW solar project in India with $0.032/kWh bid


From pv magazine India

Avaada Energy, a unit of Avaada Group, has secured a 280 MW (DC) solar project from RUVNL. It will set up the state transmission grid-connected PV power project in the Indian state of Rajasthan.

The company won the project through tariff-based competitive bidding in an auction. The project will supply the power to RUVNL over a period of 25 years at a tariff of INR 2.62 ($0.032)/kWh. The commissioning period is 18 months from the award of the project. 

“The plant is estimated to generate about 500 million units per annum, which will help to reduce 4,65,500 tons of CO2 equivalent emissions annually. The solar project can potentially power 3.6 lakh households with green energy,” said Avaada. 

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Avaada Group engages in various energy-related businesses, including manufacturing solar modules and electrolyzers, as well as renewable power generation, green hydrogen, and green ammonia production.

Its current renewable energy portfolio stands at 4 GW, with targets to reach 11 GW by 2026 and 30 GW by 2030.

In addition, the group has expanded into solar PV supply chain operations through the manufacturing of solar cells and modules. Avaada Energy has gained strategic investment from GPSC, a subsidiary of Thailand-based PTT Group.

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