This achievement marks a growth rate of 6.5% compared to the previous fiscal year 2021-22. DVC operates thermal and hydropower plants throughout the Damodar River basin, boasting a total installed capacity exceeding 7,000 megawatts. Additionally, DVC has ventured into solar power generation, further diversifying its energy portfolio.
Recent Expansion into Other States
In a noteworthy development, DVC recently forged a partnership with Avaada Energy, a private sector entity, to supply electricity in Gujarat. The agreement, signed in mid-March, entails a 25-year Power Purchasing Agreement (PPA) under the auspices of the power ministry’s scheme. Avaada Energy, the renewable energy arm of Avaada Group, becomes the first organization in India to engage in a PPA under the power ministry’s scheme for integrating thermal/hydro power stations with renewable energy and storage power. Vineet Mittal, Chairperson of Avaada Group, remarked, “Following the agreement signing, Avaada Energy has achieved a significant milestone in pioneering flexibility in generation and scheduling of thermal/ hydro power stations through bundling with renewable energy and storage power” (Economic Times, March 19th, 2024).
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