Avaada Energy Wins 1,050 MWp Solar Project - NTPC Auction
By Rediff Money Desk, New Delhi May 23, 2024 20:37
Avaada Energy secures 1,050 MWp solar project in NTPC auction, setting a new record for single largest bid. Project to be completed within 24 months.
![Avaada Energy Wins 1,050 MWp Solar Project - NTPC Auction](https://im.rediff.com/money/2016/jun/08energy.jpg)
New Delhi, May 23 (PTI) Avaada Energy on Thursday said it has secured a solar project of 1,050 MWp (megawatt peak) through a bidding process.
The auction was conducted by NTPC which is a Renewable Energy Implementing Agency (REIA), Avaada Energy said in a statement.
Avaada Energy has won the single largest bid of 1,050 MWp capacity of solar project in a recent tender issued by NTPC, it said.
The company has secured the project at a tariff of INR 2.69 per kWh, which is expected to be completed within 24 months of signing the 25-year Power Purchase Agreement (PPA), Avaada Energy said.
With the latest project, Avaada has a portfolio of 15 GW projects including letters of award and PPAs in India.
Vineet Mittal, Chairman of Avaada Group, said, "We are incredibly proud to have won the single largest bid of 1,050 MWp from NTPC. Crossing over 15 GWp portfolio is a testament to our team's hard work, innovative approach, and dedication to excellence.
The auction was conducted by NTPC which is a Renewable Energy Implementing Agency (REIA), Avaada Energy said in a statement.
Avaada Energy has won the single largest bid of 1,050 MWp capacity of solar project in a recent tender issued by NTPC, it said.
The company has secured the project at a tariff of INR 2.69 per kWh, which is expected to be completed within 24 months of signing the 25-year Power Purchase Agreement (PPA), Avaada Energy said.
With the latest project, Avaada has a portfolio of 15 GW projects including letters of award and PPAs in India.
Vineet Mittal, Chairman of Avaada Group, said, "We are incredibly proud to have won the single largest bid of 1,050 MWp from NTPC. Crossing over 15 GWp portfolio is a testament to our team's hard work, innovative approach, and dedication to excellence.
Source: PTI
Read More On:
DISCLAIMER - This article is from a syndicated feed. The original source is responsible for accuracy, views & content ownership. Views expressed may not reflect those of rediff.com India Limited.
You May Like To Read
TODAY'S MOST TRADED COMPANIES
- Company Name
- Price
- Volume
- GTL Infrastructure
- 2.93 ( -4.87)
- 226206286
- IFL Enterprises
- 1.30 (+ 4.84)
- 81461564
- Vodafone Idea L
- 16.79 (+ 0.66)
- 67447398
- NCL Research
- 0.95 ( -4.04)
- 31996628
- Franklin Industries
- 3.73 (+ 3.32)
- 21511209
MORE NEWS
![Navi Mumbai...](https://im.rediff.com/80-80/money/2021/jun/10navi-mumbai-airport7.jpg)
Navi Mumbai Airport ILS Signal Testing Begins
The Airports Authority of India (AAI) has begun ILS signal testing at the...
![Air India VRS for...](https://im.rediff.com/80-80/money/2020/sep/09tata-vistara-3.jpg)
Air India VRS for Non-Flying Staff Ahead of...
Air India has announced a voluntary retirement scheme (VRS) and voluntary separation...
Fisher Groups Oppose WTO Fisheries Subsidy Talks
Small-scale fisher groups from India, Indonesia, and Bangladesh demand WTO keep...