During COVID lockdown, Avaada Energy bags prestigious 2GW solar project of NHPC
In the midst of a global lockdown in which Avaada Energy emerged as the winner in the bidding for 2 GW solar projects auctioned by the National Hydroelectric Power Corporation (NHPC) online under the e-reverse auction method. The successful online auction would entail capex of over Rs 11,000 crores. SoftBank, Axis Energy Ventures (Brookfield promoted), O2 Power (Temasek promoted) and EDEN Renewables are the other winners. The auction took place during the COVID-19 induced global lockdown. Despite businesses struggling across the world, India remains the hotspot for renewable energy investors. In a tweet earlier, R.K. Singh, the Union Minister of Power and New & Renewable Energy, said, “During lockdown we kept our interaction with stakeholders alive through virtual platforms and also brought out new bids. This tariff is the result of several measures which we have undertaken during the past few months to enhance the confidence of investors and to promote ...