Avaada Energy on Thursday said it has bagged a 200 MW solar project from Gujarat Urja Vikas Nigam Ltd (GUVNL). The project has been bagged through an e-reverse auction process held by GUVNL, Avaada Energy said in a statement.
“The company has been awarded a 200 MW (DC) solar power project from GUVNL at a record-low tariff of Rs 2.75 per kWh,” it said.
As per the bid terms, a power purchase agreement (PPA) will be signed between the two entities for 25 years, and the project will be commissioned within 18 months.
The plant will produce 370 million units of electricity per year, leading to a reduction of approximately 3.44 lakh tonne of CO2 equivalent emissions, annually.
This solar project has the potential to provide green energy to power 2.5 lakh households, the company said.
