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June 26, 2020

Avaada Energy to develop solar power plant in India

India’s renewable energy producer Avaada Energy has secured a contract to develop a 350MW DC solar project in the state.

India’s renewable energy producer Avaada Energy has secured a contract from Maharashtra State Electricity Distribution (MSEDCL) to develop a 350MW DC solar project in the state.

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The clean energy generated by the solar facility will supply MSEDCL via a 25-year power purchase agreement.

Avaada Group chairman Vineet Mittal said: “At Avaada, we believe that business and sustainability go hand-in-hand. Being the leading Renewable Energy company of India, we are making significant investments in innovative clean energy solutions with a focus on the solar energy sector.

“On the back of India’s green energy revolution led by PM Shri Narendra Modi, India will continue its exponential growth in its renewable energy sector.”

Avaada Energy intends to commission the project by January 2022.

Once commissioned, the 350MW DC solar project is expected to generate nearly 525 million units of clean energy annually; sufficient to power 480,000 households. Additionally, Avaada says this will offset 498,750t of carbon emissions annually.

Based in Mumbai, Avaada Energy develops renewable energy projects in India with engineering, procurement and construction (EPC) capabilities. The company aims to build a portfolio of 11GW solar projects by 2025 across Asian and African regions.

Avaada has so far finalised more than 2GW of renewable capacities across India.

In February 2018, Avaada partnered with the Government of Andhra Pradesh for developing 500MW utility-scale solar projects.

At the time, the company said the energy generated was sufficient to power more than 2.4 million households.

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Delve into the renewable energy prospects for Morocco

In its new low greenhouse gas (GHG) emission strategy to 2050, submitted to the United Nations (UN), the Ministry of Energy Transition and Sustainable Development (MEM) of Morocco suggested to raise the share of renewable capacity in the country’s total power installed capacity mix to 80%.   Morocco currently aims to increase the share of renewables in total power capacity to 52% by 2030. The new strategy plans to increase the share of renewable capacity to 70% by 2040 and 80% by 2050.  GlobalData’s expert analysis delves into the current state and potential growth of the renewable energy market in Morocco. We cover: 
  • The 2020 target compared to what was achieved 
  • The 2030 target and current progress 
  • Energy strategy to 2050 
  • Green hydrogen 
  • Predictions for the way forward  
Download the full report to align your strategies for success and get ahead of the competition.   
by GlobalData
Enter your details here to receive your free Report.

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