Avaada Energy to set up 350 MW solar plant in Maharashtra

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Solar projects developer Avaada Energy on Thursday said it will set up a 350 megawatt (MW) solar plant in Maharashtra.

The project has been awarded by Maharashtra State Electricity Distribution Company Ltd (MSEDCL), Avaada said in a statement.

"Avaada Energy will invest in Maharashtra to set up a 350 MW solar power plant. The company has been accorded a Letter of Award (LoA) to develop a 350 MW solar project in Maharashtra from MSEDCL," it said.

The energy will be supplied to MSEDCL under a power purchase agreement from scheduled commercial operation date.

The project, which is expected to be commissioned by January 2022, would generate about 525 million units annually, it said.

However, the company did not disclose the value of the order.

“At Avaada, we believe that business and sustainability go hand-in-hand. 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 Prime Minister Narendra Modi, India will continue its exponential growth in its renewable energy sector,” Vineet Mittal, Chairman Avaada Group said.

Avaada Energy is a developer of renewable energy projects, backed by its strong engineering, procurement and construction (EPC) capabilities.