Avaada Energy has secured a 250 MW solar-wind hybrid power project in an auction by NTPC Limited.
NTPC had issued a tender for the selection of hybrid power generators to supply 1,000 MW of power through interstate transmission system-connected projects. Upon commissioning, the hybrid power project is expected to generate around 800 million units of renewable energy annually, and would significantly contribute to green energy supply in India by powering more than 500,000 households. The 250 MW capacity during the auction was won at a competitive tariff of Rs 3.47 per kWh. The power purchase agreement with NTPC will span 25 years, with completion targeted within 24 months.