Avaada Energy bags 300 mw solar project from MSEDCL

Avaada Energy on Sunday said it has won a 300 MW solar project at a tariff of Rs 2.83 per kWh from Maharashtra State Electricity Distribution Company (MSEDCL).

Avaada Group has been declared one of the winners in an auction conducted by Maharashtra State Electricity Distribution Company (MSEDCL) to procure power from 500 MW of grid-connected inter or intrastate solar projects (Phase-VIII) on a long-term basis, it stated.

As per the terms of the tender, the projects can be set up anywhere in India and are required to supply power to MSEDCL at the State Grid in case projects are set up in Maharashtra (Intra-State projects) and Western Region (WR) periphery. Earlier in August, the MSEDCL had conducted another auction to purchase power from 500 MW of grid connected solar projects (Phase VII). Then too, Avaada Energy had secured a capacity of 25 MW at a tariff of Rs 2.91 per kWh, it stated.

Avaada Group's flagship company Avaada Energy is a renewable energy IPP (independent power producers).