Reportedly, Avaada Inclean a wholly-owned subsidiary of Avaada Energy, has signed a 25 year power purchase agreement (PPA) with Damodar Valley Corporation (DVC) to supply electricity from its solar project in Gujarat.
The company will set up a 421 MW solar photovoltaic power project in the state. With the signing, Avaada Energy has become the first organisation in the country to enter into a PPA under the Ministry of Power’s scheme for flexibility in generation and scheduling of thermal/hydro power stations through bundling with renewable energy and storage power. DVC had appointed REC Power Development and Consultancy for the selection of solar power developers for setting up 500 MW inter-state transmission system connected solar photovoltaic power projects in India under the scheme.