Avaada Energy bagged 421 MW solar project from DVC

New Delhi: Mumabi based greem energy developer, Avaada Energy on Frday bagged a solar project from the government-owned power generator, Damodar Valley Corpopration. The 421 MW solar projet was awarded through a competitive bidding followed by an e-reverse auction. 

Avaada emerged as the winner in the bidding, quoting the tariff of Rs 2.70/kWh.

 

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According to the statement released by the company, it mentioned, "it has won the 421 MW (DC) ISTS-connected Solar PV bid in an auction conducted by the REC power Development and Consultancy ltd. (RECPDCL) on behalf of DVC.

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According to the pre bid terms, both the entities will signed a power pusrchase agreement for the 25 years, and the project will be commissioned within 18 months.

Currently it is expected that the plant will generate about 750 million units of green energy annually. 

The Chairman of the Avaada Group, Vineet Mittal focuses India as one of the fastest growing markets for Renewable Energy globally. As the company is leading itself towards the green future, expecting to meets its future targets.

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