Avaada Group says its Avaada Energy unit has secured a 560 MW (DC) solar project in the Indian state of Maharashtra.

MSEDCL awarded the project through competitive bidding, followed by an e-reverse auction. Avaada Energy emerged as the winner with 560 MW out of 700 MW (DC) auctioned, at a quoted tariff of INR 2.88/kWh.

MSEDCL will sign a 25-year power purchase agreement with Avaada Energy. The project is set for commissioning within 18 months.

It is expected to generate about 951 million units per year and help to annually reduce 8,85,563 tons of CO2 equivalent emissions.