Que: Could you provide an overview of Avaada Energy’s journey and its current position in the country? What are the notable achievements of Avaada Energy?

Ans: Avaada Energy, the IPP arm of Avaada Group, stands as a leading Independent Power Producer in India, with an ambitious goal of 11 GW capacity by 2026 and 30 GW capacity by 2030. We are continuing to drive the nation's renewable energy transition, by building some of the largest capacities across diversified locations. For example, the 1248 MWp solar project in Bikaner, Rajasthan, is the world’s largest single-location solar power plant by any IPP. We are recognised for our exceptional engineering, procurement and construction (EPC) capabilities and commitment to innovation.

During our journey so far, we have received patents for our best practices, and our projects have achieved the highest generation standards. Avaada has been consistently delivering on its commitment to renewable energy. We have also received support from renowned international investors, further solidifying our position in the industry.

Que: Avaada Energy has signed a Power Purchase Agreement (PPA) with Damodar Valley Corporation. Please shed some light on this development. How much electricity is the plant expected to generate?

Ans: We recently secured a historic 25-year Power Purchase Agreement (PPA) with Damodar Valley Corporation. This agreement enables DVC to provide green power to its customers at a competitive rate and ensures compliance with their Renewable Purchase Obligation (RPO). We are now the first IPP to enter into such a unique PPA under the Government’s scheme for flexibility in the generation and scheduling of thermal and hydropower stations through bundling with renewable energy and storage power.

Under the agreement, Avaada will set up a 421 MWp solar PV power project in Gujarat, expected to generate ~763 million units of green electricity annually. This project will contribute significantly to India's renewable energy capacity build-up and strengthen Avaada's position as a key player in the sector.

Que: With the Damodar Valley project, Avaada Energy has become the first organisation in the country to enter such PPA under the power ministry’s scheme. What USPs gave you an edge over your competitors?

Ans: Avaada’s competitive edge stems from our innovative approach, adoption of cutting- edge technologies, and proven track record of more than a decade of executing large-scale renewable energy projects, across diversified geographies. Avaada’s position is unique to this industry, as we have an in-house EPC team. This gives us an edge to ensure exceptional quality at all stages of project development, from finally operating to maintaining it.

Given our clean energy legacy, we have been able to foster strategic partnerships with key stakeholders like leading global financial investors and technology partners, ensuring access to necessary resources and support. Our commitment to cost- competitive solutions, customer-centric approach, and high standards of quality and performance set us apart in the market.

Que: Recently, Avaada Energy has secured LoA to set up 1,138 MW decentralized agricultural solar PV projects in Maharashtra. Please tell us more about this collaboration.

Ans: 2024 has so far been a year of innovation for Avaada. With our recent agreement with MSEB Solar Agro Power Limited (MSAPL), a state-owned enterprise of the Government of Maharashtra, we will address the state’s growing energy needs by ensuring uninterrupted power during the day for its 4.5 million agriculture consumers.

With this LoA, we will be developing and operating 1,138 MW of capacity through decentralised agricultural solar PV power projects across the state. This collaboration is aligned with the ambitious Mukhyamantri Saur Krushi Vahini Yojana 2.0 (MSKVY 2.0), also known as ‘Mission 2025’, which aims to transform the agricultural energy supply with a 30 percent feeder solarisation target by 2025.

Que: As a female leader in the solar industry, how do you see the role of women in shaping the future of renewable energy?

Ans: Renewable energy is pivotal to achieving net zero targets and meeting economic needs sustainably. It is a critical sector that offers a wide range of opportunities to capable and talented individuals. One needs to believe in the larger shared goals to truly make a difference in the specific areas of industry one is working in. I believe both men and women have equal opportunities so long as they are committed and bring value to their jobs.

If I were to look around, the number of women in leadership as well as critical roles has been steadily on the rise, right from leading functions to policy advocacy to working in the field as engineers. For instance, Avaada, as an equal opportunity organisation, offers the best of opportunities to our people. We believe in nurturing talent regardless of gender, and some of our best performers are female leaders.

I encourage women to be ambitious and open-minded to apply and work in organisations such as Avaada, where talented individuals are empowered to contribute to a brighter and more inclusive future.