Avaada Energy is in the process of implementing two gigawatt (GW) of open access solar plants in Maharashtra, Tamil Nadu, Haryana, Karnataka, and Odisha, the firm said in an official release.
Open access is a highly credible and economical solution for corporates looking to bring down their electricity bills and CO2 emissions significantly. Comapny is already working with some of the leading MNCs who have committed to switch to 100 per cent renewables.
According to the company, the plants were being built for corporates who are looking to optimize their operating costs and meet their energy needs through solar, rooftop and hybrid energy solutions.
Avaada Energy had earlier this year raised over Rs 1,000 crore from Asian Development Bank, Germany’s Deutsche Entwicklungs- und Investitionsgesellschaft, Dutch Development Bank, Netherlands Development Finance Company and promoters.
Till date they have commissioned over 1.8 GW of renewable energy plants and has a portfolio of over 500 megawatt (MW) of open access solar plants in commercial category.
Reference- Economic Times, Avaada Energy PR