Avaada Energy secures 560 MWdc solar project to supply power for MSEDCL

Avaada Energy has secured a 560 MW DC solar photovoltaic project which will be used to supply clean energy to the Maharashtra State Electricity Distribution Co. Ltd. (MSEDCL) for INR2.88 (US$0.0351) per kWh. 

The contract is secured after Avaada emerged as the winning bid in a reverse auction done by MSEDCL. Under the deal, the power purchase agreement (PPA) between Avaada and MSEDCL will effective for a period of 25 years. The commissioning of the solar farm is expected to start within 18 months from the start of construction. 

Avaada Energy is a renewable arm of the Avaada Group, one of the leading integrated enterprises with a focus on energy in India.