Avaada Energy wins India’s largest solar project at auction

In a competitive auction, Avaada Energy wins the largest solar project awarded to a Renewable Energy Independent Power Producer (RE-IPP) in India, offering an economic tariff of 2.53 rupees.

Share:

Victoire d'Avaada dans l'enchère solaire

Comprehensive energy news coverage, updated nonstop

Annual subscription

8.25$/month*

*billed annually at 99$/year for the first year then 149,00$/year ​

Unlimited access • Archives included • Professional invoice

OTHER ACCESS OPTIONS

Monthly subscription

Unlimited access • Archives included

5.2$/month*
then 14.90$ per month thereafter

FREE ACCOUNT

3 articles offered per month

FREE

*Prices are excluding VAT, which may vary depending on your location or professional status

Since 2021: 35,000 articles • 150+ analyses per week

Avaada Energy, a force in India’s energy sector and a key player in the Avaada Group’s diversified portfolio, is proud to announce its latest achievement: the securing of a 1400 MWp solar project in an e-auction organized by NHPC Ltd, the Government of India’s Renewable Energy Implementation Agency. This landmark project, won in a rigorous and competitive e-auction process, demonstrates Avaada Energy’s commitment to competitive pricing with a winning tariff of 2.53 rupees per kWh (~$0.0304).

Environmental benefits and impact on energy supply

The ambitious project is scheduled for completion in 24 months, and will be spread over a 25-year period with a resulting power purchase agreement (PPA). What’s more, once up and running, the solar plant is expected to produce around 2,500 million units of renewable energy every year. Making a significant contribution to India’s green energy supply, powering nearly 1.8 million rural households. However, the environmental impact of this initiative is equally impressive, with an expected annual reduction of over 2.3 million tonnes of CO2 emissions. Reinforcing Avaada Energy’s role in promoting sustainable practices and supporting India’s climate goals.

Statement by Vineet Mittal, Chairman of the Avaada Group

Mr Vineet Mittal, Chairman of the Avaada Group, expressed his enthusiasm: “This historic victory is a testament to Avaada’s unwavering commitment to promoting sustainable energy solutions. However, we are honored to be leading the expansion of renewable energy in India and contributing to a cleaner, more sustainable future. Indeed, this project represents not only a victory for Avaada, but also a major step forward for India’s renewable energy aspirations, and we’re delighted to be leading it.

Avaada Energy’s success in securing the 1400MW solar project consolidates its status as an independent power producer. Renewable Energies (RE-IPP) pioneer in India, constantly raising the bar in the nation’s renewable energy landscape.

By winning this large-scale solar project in India, Avaada Energy is demonstrating its commitment to sustainable and competitive energy solutions. What’s more, this initiative will have a positive impact on India’s green energy supply. It will also make a significant contribution to reducing CO2 emissions, thereby supporting the country’s climate objectives.

The New South Wales Government has approved Ark Energy’s hybrid solar and battery project in Richmond Valley, combining a solar power plant and long-duration storage.
Nextracker will supply steel frames for solar modules to T1 Energy in a multi-year deal worth over $75mn, aiming to strengthen the local solar supply chain and reduce dependence on imported aluminium.
Geronimo Power has started construction on the Bee Hollow solar park in St. Clair County, a 150 MW project expected to generate $54mn in direct economic impact for the region.
EDF has inaugurated a 1.2 MWc solar power plant and an intelligent electrical grid in Maripasoula, French Guiana, strengthening the energy autonomy of this remote community previously reliant on fuel imports.
Aura Power has finalised financing for its fourth UK solar plant in twelve months, backed by Rabobank, bringing its under-construction capacity to 242 MWp across the country.
The Tützpatz solar project, developed by Vattenfall and powered by GCL System Integration, combines energy production and agricultural use across 93 hectares without public funding.
Koshidaka Group signed a 10-year power purchase agreement with Farmland and Eneres to supply its Tokyo-area facilities with electricity from a 1.6MWAC solar plant located in Annaka.
The PairPHNXX system, designed for rapid deployment in areas without grid access, targets agricultural, military, and industrial markets with a turnkey modular technology.
Ascent Solar Technologies has delivered samples of its flexible photovoltaic technology to two companies for testing in extreme environments, at sea and in space.
Geronimo Power has started construction of the Bee Hollow solar project, valued at $54mn, in St. Clair County, delivering jobs, tax revenue and a partnership with the IMEA municipal agency.
The British government has approved Tillbridge Solar Farm, a 500-MW solar power plant with 2,310 MWh of energy storage, developed by Tribus Clean Energy and Recurrent Energy.
wpd solar France has launched construction of a 140.6MWc photovoltaic park in Marcy, in the Nièvre department, integrating agricultural co-activity across 632 hectares in partnership with five local farms.
Independent energy producer CVE has inaugurated a 12 MWc solar farm on municipal land in Volx, generating 19 GWh annually and an estimated €5mn in economic returns over 30 years.
GreenYellow strengthens its presence in the French overseas territories with the acquisition of 18 rooftop photovoltaic installations in Réunion, totalling 3.1 MWc in capacity, as part of a strategy to consolidate its decentralised energy assets.
The rapid rise of agri-voltaic projects in France raises concerns over agricultural impact, land speculation and the economic viability of a still-emerging model.
Norwegian developer Empower New Energy expands in North Africa with a strategic partnership involving ten industrial solar sites for self-consumption in Tunisia.
Chinese manufacturer JA Solar has started initial deliveries of its 650W n-type DeepBlue 5.0 module from its automated production site in Yangzhou.
Melvan is issuing local bonds to co-finance two photovoltaic projects in Avignon and Sault, aiming to supplement a total budget of EUR5.5mn ($5.82mn).
The 50 MW Kong solar power plant marks a new step in Côte d’Ivoire’s national grid expansion, with CFA37bn ($60.5mn) in funding and commissioning set for early 2027.
EDP will accelerate two major solar projects in Australia after securing government-backed contracts under the Capacity Investment Scheme.

All the latest energy news, all the time

Annual subscription

8.25$/month*

*billed annually at 99$/year for the first year then 149,00$/year ​

Unlimited access - Archives included - Pro invoice

Monthly subscription

Unlimited access • Archives included

5.2$/month*
then 14.90$ per month thereafter

*Prices shown are exclusive of VAT, which may vary according to your location or professional status.

Since 2021: 30,000 articles - +150 analyses/week.