Avaada Energy Clinches 820 MWp-HYBRID-ISTS Capacity in Recent E-Auction
Under the agreements, Avaada Energy will sign a 25-year power purchase agreement with SJVN Ltd., with the projects expected to be completed within 24 months.
July 01, 2024. By News Bureau
Vineet Mittal, Chairman of Avaada Group, said, "Securing 820 MWp-HYBRID-ISTS capacity is a testament to our relentless pursuit of excellence and innovation in the renewable energy sector. This win strengthens our portfolio and underscores our dedication to supporting India’s transition to a sustainable energy future. We are proud to be at the forefront of driving clean energy solutions that empower communities and contribute to the nation's energy security."
Under the agreements, Avaada Energy will sign a 25-year power purchase agreement (PPA) with SJVN Ltd., with the projects expected to be completed within 24 months. Avaada is expected to set up a total of 820 MWp of solar and wind capacity against the hybrid renewable capacity awarded by SJVN Limited. These renewable projects shall relate to the Inter-State Transmission System and will deliver power to State Owned Distribution Companies through the High Voltage Transmission system of the National Grid.
Upon commissioning, these projects are expected to generate an estimated 1,600 million units of renewable energy annually, which will power over 1,100,000 households and substantially contribute to the nation's green energy supply. With an anticipated yearly reduction of 1,490,000 tonnes of CO2 emissions, the environmental impact is significant and supports India's climate ambitions and Avaada Energy's role in encouraging sustainable practices.
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