Avaada Energy has secured a 280 MW solar project through tariff-based bidding in the auction of Rajasthan Urja Vikas Nigam Ltd.RUVNL (RUVNL).
Open Energy, unit Open Grouphas ensured a 280 MW (DC) Solar Project from RUVNL. It is setting up a state grid-connected solar power project in the Indian state of Rajasthan.
The company won the project in the auction with a tariff-based tender. The the project will supply electricity to RUVNL for 25 years at a tariff of INR 2.62 ($0.032)/kWh. The commissioning period is 18 months from the award of the project.
“The facility is estimated to produce approximately 500 million units per year, which will help reduce 4,65,500 tons of carbon dioxide equivalent emissions annually. The solar project can potentially generate electricity for 3.6 million households with green energy,” Avaada said.
Avaada Group engages in various energy-related businesses, including the manufacture of solar modules and electrolysis equipment, as well as the production of renewable electricity, green hydrogen and green ammonia.
Its current renewable energy portfolio is 4 GW, with a target of 11 GW by 2026 and 30 GW by 2030.
In addition, the group has expanded into the solar electricity supply chain by manufacturing solar cells and modules. Avaada Energy has received a strategic investment from GPSC, a subsidiary of the Thai PTT Group.