Avaada Energy, an arm of Avaada Group, has secured a 200 MW (DC) solar power project from Gujarat Urja Vikas Nigam Limited (GUVNL) at a tariff of Rs 2.75 per kWh.
The project was awarded through competitive bidding, followed by an e-reverse auction held by GUVNL. As per the bid terms, power purchase agreement (PPA) will be signed between two entities for 25 years, and the project will be commissioned within 18 months. The plant will produce 370 million units of electricity per year.