Avaada Energy, O2 Power bag 550W solar project in Madhya Pradesh

13 Jul 2021 CW Team

Avaada Energy and O2 Power were declared winners of the Rewa Ultra Mega Solar Limited (RUMSL) auction for 550 MW of solar projects at the Agar Solar Park in Madhya Pradesh.

Unit 1 Agar has a capacity of 200 MW, and Unit 2 Susner has a capacity of 350 MW.

Avaada Energy was awarded 200 MW at a price of Rs 2.459 per kWh, while O2 Power was awarded 350 MW at Rs 2.444 per kWh.

The Solar Energy Corporation of India and Madhya Pradesh Urja Vikas Nigam Limited have collaborated to form RUMSL.

The Basic Customs Duty (BCD) has been factored into the bid, according to one of the developers.

To comply with the Approved List of Models and Manufacturers (ALMM) order, the company plans to import solar cells and assemble them in India. With this strategy, the BCD will now be 25%.

With land and evacuation infrastructure already in place, the RUMSL tender carries few risks. The counterparty also has a high credit rating.

The tender was then reissued by RUMSL in January of last year. The first tender for the 450 MW of grid-connected solar PV projects at Shajapur Solar Park was issued.

The second tender sought 550 MW of solar projects at the Agar Solar Park, and the third sought 500 MW of solar projects at the Neemuch Solar Park. The tender was later extended several times for bid submission deadlines.

The entire 1,500 MW capacity will be funded by the World Bank.

RUMSL had requested proposals from interested consultants for the establishment of solar parks in Madhya Pradesh in January 2020.

The International Bank for Reconstruction and Development will provide technical assistance to the Indian Renewable Energy Development Agency.

The solar parks proposed are divided into four clusters: Sagar, Damoh, and Chhattarpur in cluster 1, Morena in cluster 2, Ratlam, Neemuch, and Mandsaur in cluster 3, and Rewa and Satna in cluster 4.

Image Source

Also read: Azure Power, Tata Power win wind-solar hybrid auction in Maharashtra

Also read: ACME, ReNew win 500 MW solar project in Maharashtra

Avaada Energy and O2 Power were declared winners of the Rewa Ultra Mega Solar Limited (RUMSL) auction for 550 MW of solar projects at the Agar Solar Park in Madhya Pradesh. Unit 1 Agar has a capacity of 200 MW, and Unit 2 Susner has a capacity of 350 MW. Avaada Energy was awarded 200 MW at a price of Rs 2.459 per kWh, while O2 Power was awarded 350 MW at Rs 2.444 per kWh. The Solar Energy Corporation of India and Madhya Pradesh Urja Vikas Nigam Limited have collaborated to form RUMSL. The Basic Customs Duty (BCD) has been factored into the bid, according to one of the developers. To comply with the Approved List of Models and Manufacturers (ALMM) order, the company plans to import solar cells and assemble them in India. With this strategy, the BCD will now be 25%. With land and evacuation infrastructure already in place, the RUMSL tender carries few risks. The counterparty also has a high credit rating. The tender was then reissued by RUMSL in January of last year. The first tender for the 450 MW of grid-connected solar PV projects at Shajapur Solar Park was issued. The second tender sought 550 MW of solar projects at the Agar Solar Park, and the third sought 500 MW of solar projects at the Neemuch Solar Park. The tender was later extended several times for bid submission deadlines. The entire 1,500 MW capacity will be funded by the World Bank. RUMSL had requested proposals from interested consultants for the establishment of solar parks in Madhya Pradesh in January 2020. The International Bank for Reconstruction and Development will provide technical assistance to the Indian Renewable Energy Development Agency. The solar parks proposed are divided into four clusters: Sagar, Damoh, and Chhattarpur in cluster 1, Morena in cluster 2, Ratlam, Neemuch, and Mandsaur in cluster 3, and Rewa and Satna in cluster 4. Image Source Also read: Azure Power, Tata Power win wind-solar hybrid auction in Maharashtra Also read: ACME, ReNew win 500 MW solar project in Maharashtra

Real Estate

06 Apr 2026

NAREDCO NextGen NCR Chapter Launched

The NAREDCO NextGen NCR Chapter was recently launched at Excelerate 2026 in Mumbai, marking a key step towards integrating emerging real estate leaders from the National Capital Region with the national platform. The initiative aims to promote sustainable and responsible urban development through collaboration and knowledge exchange.The event brought together young developers, entrepreneurs, and professionals from across NCR, including Noida, Gurugram, Ghaziabad, Faridabad, Bhiwadi, and Meerut. Discussions focused on urban development, finance, sustainability, innovation, and policy, emphasisi..

Real Estate

06 Apr 2026

India Real Estate Shifts to Institutional Capital

India’s real estate sector is undergoing a structural transformation, evolving from family-funded models into a globally integrated and institutionalised asset class, as highlighted at EXCELERATE 2026 organised by NAREDCO Maharashtra NextGen in Mumbai.The event saw participation from over 750 delegates, including investors, policymakers and industry leaders, who discussed the sector’s rapid evolution driven by urbanisation, regulatory transparency and innovative financing tools such as REITs and SM REITs.Dr Niranjan Hiranandani emphasised that urbanisation is expected to rise from 35 per c..

Real Estate

06 Apr 2026

Dubai Q1 Property Sales Rise 23.4% in Value

Dubai’s real estate market recorded 47,996 sales transactions worth AED 176.7 billion in Q1 2026, marking a 5.5 per cent year-on-year rise in volume and a 23.4 per cent increase in value. As per a report by fäm Properties, the off-plan segment remained the key driver, accounting for 70 per cent of transaction volume and 71 per cent of total value, underlining the strong momentum of new project launches across the emirate.Data from DXBinteract showed that off-plan sales in March alone reached 10,303 transactions worth AED31.2 billion, up 5.4 per cent in volume and 8.9 per cent in value over ..