Avaada Energy announced on Wednesday that it had obtained a 250 MW solar-wind hybrid power project in an auction held by NTPC Limited.
The project, which can be put up anywhere in India, would be linked to the Inter-State Transmission System (ISTS) network to ensure consistent energy transmission across regions, according to a company release.
NTPC had launched a tender for the selection of hybrid power generators to supply 1,000 MW of electricity via ISTS-connected wind-solar hybrid projects.
Avaada Energy won a key 250 MW capacity auction, offering a reasonable tariff of Rs 3.47 per kWh.
Following finalization, the next Power Purchase Agreement (PPA) with NTPC will last 25 years, with completion expected within 24 months.
After commissioning, the hybrid solar-wind power plant is estimated to create roughly 800 million units of renewable energy per year, considerably adding to India’s green energy supply and powering more than 5 lakh homes.
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 in the statement, “We are happy to further cement our position as a leader in the renewable energy sector with this 250 MW win in NTPC’s prestigious tender.”
