Avaada Energy bags solar project from SECI

Solar Energy Corporation of India (SECI) has awarded a 280 megawatt renewable energy project to Avaada Energy. The central government's nodal organisation for renewable energy project auctions is SECI.

"Avaada Energy has won the 280 MWp project under tariff-based competitive bidding carried out by SECI as a part of SECI's 2 GW ISTS (inter-state transmission system) connected solar projects (Tranche XI)," the business stated in a statement.

The competitive auction gives Avaada Energy the freedom to establish a solar power facility anywhere in India and provide clean electricity over the long term at a rate of Rs 2.61/kWh.

The project will go into operation within 18 months of the power purchase agreement (PPA) being signed. The business withheld any project-related financial information. According to industry standards, it costs Rs 6-7 crore to install 1 MW of green energy capacity.