Avaada Energy announced that it has been selected to supply solar energy to the Maharashtra State Electricity Distribution Company under a 560 megawatt (MW) solar project bid. The company won the project through a competitive bidding process that included an e-reverse auction and a quoted tariff of Rs 2.88 per
unit. "Our progress in the power sector has traditionally been led by Maharashtra. I have no doubt that the industry's leaders will benefit much from its ambitious goals and commitments to a green future. Vineet Mittal, chairman of the Avaada Group, "We consider this as a tremendous milestone in our drive to convert the world into one that is eco-friendly and sustainable.
The project will be completed in 18 months, according to the statement, and a power purchase agreement for 25 years will be inked between two parties. About 951 million units per year are anticipated to be produced by the plant, resulting in an annual reduction of 8,85,563 tonnes of CO2 equivalent emissions.
It can supply around 7 lakh houses with green energy. The Avaada Group, an integrated energy company with business interests along the whole value chain of the energy revolution, includes an arm called Avaada Energy.
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