The 25-year Power Purchase Agreement, secured at Rs. 3.59 per kWh, translates into 170 million renewable energy units annually and substantial economic opportunities
Avaada Energy, a prominent player in India's energy sector, has achieved a significant breakthrough by securing a 50 MW wind project through an e-reverse auction facilitated by REC Power Development and Consultancy Limited (RECPDCL).
The competitive bidding process, overseen by Bid Process Coordinator DVC Limited, aligns with the Ministry of Power's scheme for flexibility in the generation and scheduling of thermal and hydroelectric power stations through bundling with renewable energy and storage power.
This success underscores Avaada Energy's commitment to competitive pricing, with a winning tariff of Rs. 3.59 per kWh (~$0.0430) set for a 25-year Power Purchase Agreement (PPA). The ambitious project is scheduled for completion within 18 months.
Upon commissioning, the wind project is anticipated to generate approximately 170 million units of renewable energy annually, significantly bolstering India's green energy supply. This surge in energy production is poised to illuminate over a hundred thousand rural households across the country.
In addition to the substantial energy contribution, Avaada Energy's initiative is set to make a commendable environmental impact. The project is expected to reduce approximately 4 million tonnes of CO2 emissions during the PPA's 25-year term, aligning with India's climate goals and reinforcing Avaada Energy's commitment to sustainable practises.
Beyond environmental considerations, Avaada Energy's 50 MW wind power project is positioned to impact local communities positively. The initiative is expected to generate many job opportunities, fostering economic growth and regional prosperity.