Avaada Energy, a pivotal player in the renewable energy sector under the Avaada Group umbrella, proudly announces its acquisition of more than 1400 MWp in solar energy projects across India. The company has successfully clinched contracts through recent tenders issued by both central and state government agencies.
In a significant move for India’s renewable energy landscape, Avaada Energy has secured capacities totaling 1400 MWp from tenders floated by prominent state-owned agencies such as SECI, GUVNL, and NTPC. The projects, earmarked for development in Gujarat and Rajasthan, underscore Avaada’s unwavering commitment to bolstering its renewable energy presence nationwide.
Upon finalisation, the Power Purchase Agreements (PPAs) for these projects will extend over 25 years, signalling a steadfast dedication to sustainable energy production. Anticipated to be completed within 24 months, the SECI, GUVNL, and NTPC projects are poised to generate an estimated annual output of approximately 2,410 million units of renewable energy, sufficient to power over 1.72 million rural households in India annually. This initiative is projected to make a substantial dent in carbon emissions, with an expected annual CO2 reduction of around 2.24 million tonnes, aligning with India’s climate commitments.
Mr. Vineet Mittal, Chairperson of Avaada Group, lauded the achievement, stating, “Securing these solar projects underscores Avaada Energy’s leading role in India’s renewable energy sector. With these latest additions, Avaada’s portfolio now boasts approximately 6 GW of projects under various stages of development, supplementing our operational capacity of around 4.1 GW. This milestone not only reaffirms Avaada’s industry leadership but also underscores our dedication to sustainable energy solutions that bolster India’s green energy aspirations.”
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