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Avaada Energy Wins 1,050 MW Solar Project from NTPC

Avaada Energy has secured a 1,050 MW solar power project from National Thermal Power Corporation (NTPC) Ltd. The company has secured this project through NTPC’s auction. Tender for this project was issued by NTPC, which acted as the Renewable Energy Implementing Agency (REIA). This information was shared by Avaada Energy in its press release dated 23rd May 2024.

Avaada Energy has secured this solar project by quoting a tariff of Rs. 2.69 per KWh. Further, Avaada’s release mentioned that this project is expected to be commissioned in a period of 24 months from the date of signing the Power Purchase Agreement (PPA).

Commenting on this win, Mr. Vineet Mittal, Chairman of Avaada Group, said, “This achievement not only highlights our capability to execute large-scale Renewable Energy (RE) projects but also reinforces our commitment to supporting India’s transition to a sustainable energy future”. Mr. Mittal also mentioned that with this win, Avaada has received Letters of Award (LoAs) and has signed PPAs for projects of over 15 GW collectively in India till date. Avaada’s release added that this project, once commissioned, is expected to generate about 1,800 Million Units (MU) of RE annually.