Avaada Energy has won the 560 MW (DC) solar project bid in an e-reverse auction conducted by Maharashtra State Electricity Distribution Company Limited (MSEDCL). The project was awarded through competitive bidding, followed by an e-reverse auction in which Avaada emerged as the winner with a quoted tariff of Rs 2.88 per kWh.
As per bid terms, power purchasing agreement (PPA) will be signed between two entities for 25 years, and the project will be commissioned within 18 months. The plant is expected to generate about 951 million units annually which will help reduce 885,563 tons of carbon dioxide equivalent emissions annually.
In October 2022, Avaada Group signed a long-term contract with Israel-based Airtouch Solar for the maintenance of its solar modules using robotic cleaning solutions. The agreement has been executed for a period of 25 years. It includes the supply, erection, testing, commissioning, operation, and maintenance of Airtouch robotic cleaning systems at Avaada solar farms.
Also, in September 2022, Avaada Group was 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.
