Avaada Energy on Wednesday said that it has won a 250 megawatt (MW) capacity of solar-wind hybrid power project in a recent tender issued by the Renewable Energy Implementing Agency (REIA), NTPC.
Earlier, NTPC had issued a tender for the selection of hybrid power generators to supply 1,000 MW of power through ISTS-connected wind-solar hybrid projects.
Avaada Energy secured a significant 250 MW capacity during the auction, offering a competitive tariff of ₹3.47 per kWh. The project, which can be set up anywhere in India, will be connected to the Inter State Transmission System (ISTS) network, ensuring seamless energy delivery across regions.
This project represents a strategic win for Avaada Energy, showcasing its capability to operate significant hybrid renewable energy installations. The 250 MW capacity aligns perfectly with the company’s expansion strategy and its mission to support India’s transition to a low-carbon economy, Avaada Energy said.
Post finalisation, the forthcoming Power Purchase Agreement (PPA) with NTPC will span a period of 25 years, with completion targeted within 24 months. Upon commissioning, the hybrid solar-wind power project is expected to generate around 800 million units of renewable energy annually, significantly contributing to India’s green energy supply and powering more than 5 lakh households.
This initiative is projected to play a significant role in reducing carbon emissions, with an expected annual CO2 reduction of approximately 7,47,200 tonnes, aligning with India’s climate objectives.
Vineet Mittal, Chairperson of Avaada Group, said “This project not only reflects our competitive edge in hybrid energy solutions but also our unwavering commitment to India’s energy sustainability goals. With a tariff of ₹3.47 per kWh, we are setting benchmarks in the affordability and accessibility of clean energy.”
This project will add substantial value to Avaada’s growing footprint in the hybrid renewable energy landscape, he added.