Avaada Energy on Tuesday said it has bagged a 280-megawatt (MW) solar project from Rajasthan Urja Vikas Nigam Limited (RUVNL).
The project, bagged through a bidding process, will be commissioned within 18 months, the Avaada Group company said.
As per the bid terms, the solar power generated from the project will be supplied to RUVNL for 25 years at a tariff of Rs 2.62 per kWh (kilowatt hour), it said in a statement.
Avaada Energy CEO Kishor Nair said, "This is another feather in our cap as we expand our presence in Rajasthan. I am certain that such ambitious projects, built with collaborations with the government, will lead India to a greener future."
The plant will generate about 500 million units per annum which will help to reduce 4,65,500 tonnes of CO2 equivalent emissions annually. The solar project can potentially power 3.6 lakh households with green energy.