Avaada Energy wins 280 MWp in SECI’S ISTS-Connected Solar Projects Auction

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Avaada Energy wins 280 MWp in SECI’S ISTS-Connected Solar Projects Auction

Avaada Energy wins 280 MWp in SECI’S ISTS-Connected Solar Projects Auction

Industry News
Aug 01,23

The company will supply solar power at a tariff of Rs 2.61 (~$0.032)/kwh, the highest tariff among other winners of the auction.

Avaada Energy wins 280 MWp in SECI’S ISTS-Connected Solar Projects Auction

Avaada Energy, the renewable energy arm of Avaada Group – India's leading integrated energy transition group, has won the 280 MWp project under tariff based competitive bidding carried out by SECI as a part of SECI’s 2 GW ISTS-connected Solar Projects (Tranche XI). Bidding allows flexibility to Avaada Energy to set up the Solar Power project anywhere in India and supply green electricity on long-term at a tariff of Rs 2.61 (~$0.032)/kWh. Project will become operational within 18 months from the signing of Power Purchase Agreement.

This triumph follows an impressive track record in the last few months, wherein Avaada Energy won in multiple bids, securing capacities from GUVNL – 400 MW, DVC – 421 MW, RVPN – 280 MW.

Kishor Nair, CEO of Avaada Energy, said, “This is yet another jewel in our crown as we broaden and intensify our footprint in India. Our commitment to making substantial contributions to India's renewable energy sector remains unflinching. I am convinced that such audacious initiatives, born from collaborations with the government, will shepherd India towards a more environmentally conscious future. We perceive these strides as victories in our pursuit of a sustainable future"