Avaada secures 1,050 MWp solar project with NTPC

The project brings the company’s local portfolio to over 15 gigawatts-peak.

Avaada Energy has won the single largest bid to develop a 1,050 megawatt-peak solar project issued by the National Thermal Power Corporation.

In a statement, Avaada Energy said the project, which has a tariff of (INR2.9) per kilowatt-hour, will be completed within 24 months from the signing of a 25-year power purchase agreement.

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“We are incredibly proud to have won the single largest bid of 1050 MWp from NTPC. This achievement not only highlights our capability to execute large-scale renewable energy projects but also reinforces our commitment to supporting India’s transition to a sustainable energy future,” said Avaada Chairman Vineet Mittal.

The project is expected to generate around 1,800 million units of renewable energy annually which is equivalent to meeting the demands of around 1.2 million households.