Avaada Energy Purchases 1,400 MW to Scale Up Solar Presence

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Developer Avaada Energy bagged projects worth 1,400 MW under recent solar power tenders. Organized by central as well as state agencies. This humongous addition of solar capacity is in line with Avaada’s plan to quickly expand its solar portfolio.  Hence, for them to reach 11GW capacity by 2026.

The solar developer has got projects totaling to 421 MW capacity. This is from Solar Energy Corporation of India (SECI), 280 MW from Gujarat Urja Vikas Nigam (GUVNL) and 700 MW from NTPC in competitive bidding process. These large-scale projects will be located in Gujarat and Rajasthan. They will supply power to the state electricity Distribution Companies under 25-year long-term Power Purchase Agreements.

Avaada Energy

Avaada Energy’s Progress Towards 30GW Renewable Energy Capacity

This latest victory has Avaada Energy almost achieving its target of 30GW renewable energy capacity by 2030. Talking about the present, the company has more than 4.1GW of clean energy assets in operation all over the country. Avaada already has an additional 6GW under development. Furthermore, today it becomes one of the major players in developing Independent Power Producers (IPPs) in India.

As per Vineet Mittal, Chairperson of Avaada Group, the new projects portray the company’s industry leadership. Moreover, its drive towards the fast-tracked development of clean energy in India. Hence, the early realization of these big solar parks by Avaada shall be a key factor for them to continue its fast growth rate in such a competitive market.

Rapid Implementation: Avaada Energy’s 24-Month EPC Schedule

The 1,400 MWp solar portfolio is forecasted to produce in the range of 2,410 million kWhr of electricity annually on completion. Such an installation would satisfy for a whole year the needs of more than 1,730,000 families in a safe way for the environment.

Avaada Energy has an intense implementation schedule of 24-months to complete the EPC activities. This is for the SECI, GUVNL and NTPC projects. This solar farm will cost an estimated ₹5,500 crores to build and yearly once fully operational in 2024-end. It will reduce 2.24 million tones of CO2.

Role in Gujarat’s Green Energy Roadmap

Notably, Gujarat has set a target to have 30GW of renewable energy capacity by 2022-end. Additionally, it plans to meet its increasing power demand predominantly through solar and wind energy going forward. This includes an allocation of 10GW Solar Park capacity.

In line with the state’s green energy roadmap, Avaada Energy aims to develop up to 8GW solar capacity within Gujarat itself. Its partnership with Gujarat Power Corporation Ltd. (GPCL) will also see an investment of ₹40,000 crores to set up a 10GW renewable energy park in the Kutch region along with green hydrogen and ammonia facilities.

As Gujarat fast-tracks its renewable energy goals, Avaada’s expanding project portfolio will continue to play a pivotal role in sustainably strengthening the state’s energy infrastructure while delivering robust returns.

Conclusion

Avaada Energy is one of the leading independent power producers of renewable energy in India. It is poised to benefit from the country’s ambitious green energy goals. The firm integrates their financial power with the deep technical competence. This they have acquired through the solar project lifecycle, from acquisition to construction and to long-term operations.

Additionally, the company’s partnerships with major state utilities and their track record of timely project delivery is a strong justification of the expansion of their renewable energy power. The impacts of climate change are deepening. The shift to clean energy is becoming more urgent in the evolution of the Indian power sector. With the addition of this 1.4GW solar fleet on its back, Avaada Energy plans to assist in ensuring sustainable delivery of electricity, as India’s needs continue to grow.