Avaada Energy Secures 820 MWp-Hybrid Project From SJVN

Avaada Announces ₹1L-cr Investment In Rajasthan's Energy Transition

Mumbai-based Avaada Energy, a subsidiary of Avaada Group secured an 820 MWp Hybrid-Inter-State Transmission System (ISTS) capacity in the recent e-Reverse Auction (e-RA) held in June 2024. This project was awarded by SJVN Limited, as confirmed in the Letter of Award (LoA). 

Vineet Mittal, Chairman of Avaada Group, stated, “Securing 820 MWp-hybrid-ISTS capacity is a testament to our relentless pursuit of excellence and innovation in the renewable energy sector. This win strengthens our portfolio and underscores our dedication to supporting India’s transition to a sustainable energy future. We are proud to be at the forefront of driving clean energy solutions that empower communities and contribute to the nation’s energy security.”

Under the agreements, Avaada Energy will sign a 25-year power purchase agreement (PPA) with SJVN Ltd., with the projects expected to be completed within 24 months. Avaada is expected to set up a total of 820 MWp of solar and wind capacity against the awarded hybrid renewable capacity awarded by SJVN Limited. These renewable projects can relate to the Inter-State Transmission System and are expected to deliver power to state-owned distribution companies through the high-voltage transmission system of the National Grid. Upon commissioning, these projects are expected to generate an estimated ~1,600 million units of renewable energy annually, significantly contributing to the country’s green energy supply and powering more than 1,100,000 households.

The environmental impact is substantial, with an expected annual reduction of ~1,490,000 tonnes of CO2 emissions, reinforcing Avaada Energy’s role in promoting sustainable practices and supporting India’s climate goals, the company claimed.

Noteworthy that the central Public Sector Enterprise–SJVN is slowly moving towards boosting the growth of solar, wind and hybrid technologies besides its main business of boosting hydroelectric power. As per the details shared by the company recently, the central PSU claimed that it commissioned two major solar projects in 2023 i.e., Gujrai Solar Project of 50 MW and Raghanesda Solar Project of 100 MW in Quarter 4. These new projects brought SJVN’s installed capacity to around 2,377 MW. The power from this solar project was supposed to be sold to Gujarat Urja Vikas Nigam Limited (GUVNL) thus, taking the latest power added from these projects to 150 MW.