Global Power Synergy Company Public Limited (GPSC) announces success in securing 1,050 MW solar farm project in India , the largest project of the company, increasing renewable energy proportion to 62%
Avaada Energy Private Limited (Avaada Energy), a renewable energy company in India and a subsidiary of Avaada Group, in which GPSC holds 42.93% shares through Global Renewable Synergy Company Limited (GRSC), has been selected as the successful bidder of the 1,050 MW solar power project auction by National Thermal Power Corporation Limited (NTPC) [1], a public sector undertaking under the Ministry of Power, India.[2]
The project has a 25-year power purchase agreement (PPA) at a price of 2.69 Indian rupees/kWh (~0.03 USD). Avaada Energy will implement the project with its in-house capabilities and EPC and is expected to be completed within 24 months of signing the PPA.
The project is expected to generate approximately 1,800 million units (kWh) of electricity per year, which is expected to supply electricity to more than 12 million households and reduce carbon dioxide (CO2) emissions into the atmosphere by an equivalent of 1,681,200 tons per year. [1]
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