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Home » News » Avaada Energy wins 250 MW solar-wind hybrid project

Avaada Energy wins 250 MW solar-wind hybrid project

April 19, 2024 1:00 pm

Avaada Energy wins 250 MW solar-wind hybrid project
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Project to provide clean energy for 500,000 households, reducing carbon emissions significantly.

Avaada Energy, a division of the Avaada Group, has secured a 250 MW solar-wind hybrid power project in a tender issued by the National Thermal Power Corporation (NTPC) through the Renewable Energy Implementing Agency (REIA). This tender aims to provide 1000 MW of power via ISTS-connected wind-solar hybrid projects across India. Avaada Energy won this substantial project with a competitive tariff of 23.47 per kWh. The project will be connected to the Inter State Transmission System (ISTS), allowing for efficient energy distribution nationwide.

“We are happy to further cement our position as a leader in the renewable energy sector with this 250 MW win in NTPC’s prestigious tender. This project not only reflects our competitive edge in hybrid energy solutions but also our unwavering commitment to India’s energy sustainability goals. With a tariff of 23.47 per kWh, we are setting benchmarks in the affordability and accessibility of clean energy,” said Vineet Mittal.

Avaada Group’s chairperson announced that the 250 MW solar-wind hybrid power project is expected to be completed within 24 months. Once operational, the project is anticipated to generate approximately 800 million units of renewable energy annually, enough to power more than 500,000 households. It is projected to reduce carbon emissions by about 747,200 tonnes each year, aligning with India’s climate change objectives. The project is supported by a long-term Power Purchase Agreement (PPA) with NTPC lasting 25 years, highlighting Avaada Energy’s dedication to strengthening India’s renewable energy infrastructure and aiding the country’s transition to a low-carbon economy. This initiative will contribute significantly to Avaada’s expanding presence in the hybrid renewable energy sector.

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