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14 April
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Avaada Energy wins 560 MW (DC) solar project in Maharashtra

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Avaada has secured a 560 MW (DC) solar project from Maharashtra State Electricity Distribution Co. Ltd (MSEDCL). The project will supply power to MSEDCL at a tariff of INR 2.88 ($0.035)/kWh.

Avaada Group announced today its arm Avaada Energy has secured a 560 MW (DC) solar project in Maharashtra. 

The project was awarded by Maharashtra State Electricity Distribution Co. Ltd (MSEDCL) through competitive bidding followed by an e-Reverse auction. Out of the overall 700 MW (DC) auctioned, Avaada emerged as the winner for 560 MW with a quoted tariff of INR 2.88 ($0.035)/kWh.

As per bid terms, MSEDCL will sign a 25-year power purchase agreement with Avaada. The project is set for commissioning within 18 months. It is expected to generate about 951 million units annually and help reduce 8,85,563 tons of CO2 equivalent emissions annually. The solar project can potentially power 7 lakh households with green energy.