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Private Sector | Gujarat - India | PID: 202669
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Avaada Energy's subsidiary Avaada Inclean has signed a power purchase agreement (PPA) with Damodar Valley Corporation (DVC) to supply electricity from its solar project in Gujarat.
The PPA for 25 years, was formally signed between Avaada Inclean a wholly-owned subsidiary of Avaada Energy, and DVC in Kolkata. The company will set up a 421 MW solar photovoltaic power project in the state.
With the signing, Avaada Energy has become the first organisation in the country to enter into a PPA under the Ministry of Power’s (MoP) scheme for flexibility in generation and scheduling of thermal/hydro power stations through bundling with renewable energy and storage power. It will enable DVC to provide green power to its customers at a competitive rate and ensure compliance with Renewable Purchase Obligation (RPO).
DVC had appointed REC Power Development and Consultancy (RECPDCL) for the selection of solar power developers for setting up 500 MW ISTS-connected solar PV power projects in India under the scheme. In June 2023, Avaada Energy secured the letter of award (LoA) from RECPDCL for setting up ISTS-connected solar PV power projects in India under tariff-based competitive bidding at a tariff of Rs 2.70 per unit.
| Updated on: 26 - Mar - 2024
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