Avaada Energy, a provider of renewable energy, announced that Damodar Valley Company has awarded them a 421 Megawatt solar project (DVC).
Avaada won the project through a competitive bidding process that included an e-reverse auction and a quoted tariff of Rs 2.70/kWh.
“It has won the 421 MW (DC) ISTS-connected Solar PV bid in an auction conducted by REC Power Development and Consulting Ltd (RECPDCL) on behalf of DVC,” Avaada stated in a statement.
According to the bid specifications, a 25-year power purchase agreement will be signed between the two parties, and the project will be completed in 18 months.
