On Monday, 24 July, Avaada Energy announced that it secured a 280-megawatt renewable energy project from the Solar Energy Corporation of India (SECI). SECI, the central government’s nodal agency for auctioning renewable energy projects, conducted the tariff-based competitive bidding for SECI’s 2 GW ISTS (inter-state transmission system) connected solar projects (Tranche XI).
As part of the bidding process, Avaada Energy has the flexibility to establish the solar power project anywhere in India and provide green electricity in the long term at a tariff of INR 2.61/kWh (kilowatt hour).
The project is expected to be operational within 18 months from the signing of the power purchase agreement (PPA).
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