Avaada Energy gets LoI for 400 MW DC Solar Project from GUVNL

  • Industry News
  • Jun 21,23
The company has won 200 MW under base capacity at a tariff of Rs 2.75/kWh and another 200 MW under green shoe option at a tariff of Rs 2.71/kWh from GUVNL under tariff-based competitive bidding process followed by an e-Reverse auction.
Avaada Energy gets LoI for 400 MW DC Solar Project from GUVNL

Avaada Energy, an arm of Avaada Group – India's leading integrated energy group with business interests in Renewable Power Generation, Solar Module Manufacturing, Electrolyser manufacturing and Green Ammonia production, has received the Letter of Intent (LoI) from Gujarat Urja Vikas Nigam Limited (GUVNL) to set up 400 MW (DC) solar project.

The company has won 200 MW under base capacity at a tariff of Rs 2.75/kWh and another 200 MW under green shoe option at a tariff of Rs 2.71/kWh from GUVNL under tariff-based competitive bidding process followed by an e-Reverse auction.

Post commissioning, the plant will produce 740 million units of green electricity per year, leading to a reduction of approx. 6,88,940 tons of CO2 equivalent emissions annually. This solar project has the potential to provide green power to around 5 lakhs households.

As per the bid terms, the solar power generated from the project will be supplied to GUVNL for 25 years, and the projects will be commissioned within 18 months from the date of execution of the Power Purchase Agreements (PPAs).

Kishor Nair, CEO of Avaada Energy, said, “This is another feather in our cap as winning project in Gujarat will further strengthen our renewable energy footprints in the state. We shall strive to continue making significant contribution in the country’s journey towards building a sustainable future.”

Related Stories

Electrical & Electronics
Servotech bags 4.1 MW on-grid rooftop solar order from East Coast Railway

Servotech bags 4.1 MW on-grid rooftop solar order from East Coast Railway

Under the scope of this contract, Servotech will undertake the design, manufacturing, supply, installation, testing, and commissioning of rooftop on-grid Solar Photovoltaic (PV) plants of varying ca..

Read more
Electrical & Electronics
Alpex Solar’s Q3 profit surges 423%, expands manufacturing capacity

Alpex Solar’s Q3 profit surges 423%, expands manufacturing capacity

Alpex Solar also plans an additional 1.2 GW module manufacturing plant and an aluminum frame production facility, both slated to begin operations by December 2025.

Read more
Electrical & Electronics
Waaree Energies wins 1 GW solar module order

Waaree Energies wins 1 GW solar module order

Waaree's Topcon 580Wp Bifacial Glass modules are engineered for durability and performance, allowing for enhanced energy generation and reduced environmental impact.

Read more

Related Products

Geared Electric Motors

ELECTRICAL & ELECTRONIC EQUIPMENT

Delco Fans Pvt Ltd offers single phase capacitor run and three phase geared Instrument motors, totally enclosed face/foot mounted.

Read more

Request a Quote

78 Series Din Rail Terminal Blocks

ELECTRICAL & ELECTRONIC EQUIPMENT

Werner Electric Private Limited offers a wide range of 78 series din rail terminal blocks.

Read more

Request a Quote

Hi There!

Now get regular updates from IPF Magazine on WhatsApp!

Click on link below, message us with a simple hi, and SAVE our number

You will have subscribed to our Industrial News on Whatsapp! Enjoy

+91 84228 74016