Avaada Energy arm Avaada Inclean has inked a pact with Damodar Valley Corporation (DVC) to supply electricity from its 421 MW solar project in Gujarat. The company is planning to set up a 421 MW solar photovoltaic power project in Gujarat, a statement said.
Avaada Energy has signed a 25-year Power Purchase Agreement (PPA) with DVC.
The PPA was formally signed between Avaada Inclean Pvt Ltd, a wholly- owned subsidiary of Avaada Energy, and DVC at the latter’s headquarters in Kolkata.
Vineet Mittal, Chairperson of Avaada Group, said: “After signing the agreement, Avaada Energy has become the first organization in the country to enter into a PPA under the power ministry’s scheme for flexibility in Generation and Scheduling of Thermal/Hydro Power Stations through bundling with Renewable Energy and Storage power.”
