GUVNL Awards 200MW Solar Project To Avaada Energy With A Tariff Of Rs 2.75/KwH

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The Gujarat Urja Vikas Nigam Limited (GUVNL) has now awarded a 200 MW solar power project to Avaada Energy, an arm of Avaada Group. The project contract was given at a tariff of Rs 2.75 per Kilo-Watt-Hour (KwH). 

GUVNL awarded the project to the renewable energy company through competitive bidding, followed by an e-reverse auction. As per the tender agreements, GUVNL and Avaada will sign a Power Purchase Agreement (PPA) for 25 years. The project will be commissioned within the next 18 months. 

The solar energy project will likely produce 370 million units of electricity per year. The clean energy project is expected to provide green energy to around 2.5 lakh power consumers. 

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Speaking on this development, Kishore Nair, CEO of Avaada Energy, said, “Our team is fully committed to supporting the vision of net zero by actively contributing to India’s renewable energy (RE) sector, and we remain steadfast in our efforts to help India become a leader in solar energy and promote the shift towards a more sustainable planet.” 

Earlier this month, Avaada also bagged a 560 MW solar energy project to supply renewable power to the Maharashtra State Electricity Distribution Co. Ltd (MSEDCL) at a quoted rate of Rs 2.88 per KwH. On April 3, the company also announced bagging a 470 MW solar project from Damodar Valley Corporation at Rs 2.70 per KwH. 

Avaada Group is India’s integrated energy enterprise with business interests ranging from manufacturing solar modules and electrolyzers to renewable power generation, green hydrogen, and green ammonia production. In 2021, GPSC, a subsidiary of PTT Group, a leading Thailand-based conglomerate, invested in Avaada Energy and was a strategic investor.

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