Avaada Energy, a provider of renewable energy, said that Damodar Valley Company has awarded it a 421 Megawatt solar project (DVC). Avaada won the project through a competitive bidding process that included an e-reverse auction and a quoted tariff of Rs 2.70/kWh. The 421 MW (DC) ISTS-
connected Solar PV bid was won by Avaada in an auction held by REC Power Development and Consulting Ltd (RECPDCL) on behalf of DVC, according to Avaada. The bid specifications, a 25-year power purchase agreement will be signed between the two parties, and the project will be completed in 18 months. Over 750 million green energy units are anticipated to be produced yearly by the facility, which will result in a 6,98,250 tonne reduction in CO2 equivalent emissions. 5 lakh residences might potentially be powered by the solar installation.
"One of the world's marketplaces for renewable energy with the greatest growth is India. We are convinced that tremendous opportunities will open up because we have set ambitious goals and made pledges to a green future. This is a win for us and for the stakeholders, "Avaada Group Chairman Vineet Mittal stated. The central government agency DVC produces and distributes electricity in the Jharkhand and West Bengal region along the Damodar River.
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