Avaada Energy gets LoI for 400-MW solar project from GUVNL, Energy News, ET EnergyWorld

New Delhi: Avaada Energy, an arm of Avaada Group, on Thursday said it has received the Letter of Intent (LoI) from Gujarat Urja Vikas Nigam Limited (GUVNL) to set up a 400-megawatt (MW) solar power project.

The company has won 200 MW under base capacity at a tariff of Rs 2.75 per unit and another 200 MW under greenshoe option at a tariff of Rs 2.71 per unit from GUVNL under the tariff-based competitive bidding process followed by an e-Reverse auction, according to the press release.

It added that after the commissioning, the plant will produce 740 million units of green energy per year, leading to a reduction of about 6,88,940 tonnes of carbon dioxide equivalent emissions annually.

This solar project has the potential to provide green power to about five lakh households. The projects will be commissioned within 18 months from the date of execution of the power purchase agreements.

  • Published On Jun 15, 2023 at 06:14 PM IST

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