Avaada Energy has significantly broadened its presence in the Indian solar energy market through the acquisition of around 1,400 MW worth of solar energy projects. These acquisitions were secured following recent tenders conducted by various central and state government agencies.
Avaada Energy is one of the leading renewable energy companies dedicated to driving the transition towards sustainable power generation. Founded with a vision to combat climate change and promote clean energy solutions, Avaada specializes in the development, construction, and operation of solar and wind power projects across India.
The company has secured capacities through various tenders, obtaining 421 MW from the Solar Energy Co of India (SECI), 280 MW from Gujarat Urja Vikas Nigam Ltd (GUVNL), and a 700 MW from the National Thermal Power Co (NTPC). These projects are positioned in the states of Gujarat and Rajasthan, enhancing the company’s foothold in the renewable energy market.
Their ambitious timeline aims to complete these projects within 24 months, showcasing their commitment to efficient project execution. With this recent acquisition, the company’s portfolio now boasts an impressive total capacity of six GW across projects at different developmental stages, in addition to its operational capacity of 4.1 GW.
Upon completion, these solar installations are expected to yield an estimated annual output of approximately 2,410 million renewable energy units. This significant energy output is projected to cater to the electricity needs of over 1.72 million rural households in India, marking a substantial contribution to the nation’s ongoing efforts towards rural electrification.
Moreover, the deployment of these solar projects is anticipated to result in an annual reduction of approximately 2.24 million tonnes of CO2 emissions, underscoring the company’s dedication to environmental sustainability and its pivotal role in supporting India’s broader initiatives aimed at combatting climate change.