Avaada Energy Secures Over 1400 MWp Solar Project Across India

Avaada Energy Secures Over 1400 MWp Solar Project Across India

Avaada Energy, a key entity in the Avaada Group’s renewable energy division, has recently announced an acquisition of approximately 1400 MWp in solar energy projects through recent tenders issued by central and state government agencies in India.

Vineet Mittal, Chairperson of Avaada Group said, “Marking a significant stride in India’s renewable energy journey, Avaada Energy has secured capacities of 421 MW, 280 MW, and 700 MW in tenders issued by state-owned agencies Solar Energy Corporation Of India (SEC), Gujarat Urja Vikas Nigam (GUVNL), and National Thermal Power Corporation (NTPC), respectively for Gujarat and Rajasthan.”

He added, “Upon finalization, the Power Purchase Agreements (PPAs) with these agencies, the announced projects will span 25 years. The SECI, GUVNL, and NTPC projects are anticipated to be completed within a 24-month timeframe.”

He elaborated, “These solar installations are expected to generate an estimated annual output of 2,410 million units of renewable energy, effectively powering over 1.72 million rural households in India. This initiative is projected to contribute significantly to reducing carbon emissions, with an expected annual CO2 reduction of – 2.24 million tons each year, aligning with India’s climate objectives.”

Vineet Mittal, Chairperson of Avaada Group, commented on the achievement, “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.”