Avaada Energy Spearheads India’s Renewable Energy Growth with Acquisition of 1400 MWp Solar Projects

Avaada Energy, a prominent player within the renewable energy sector of the Avaada Group, is thrilled to announce the successful acquisition of approximately 1400 MWp in solar energy projects through recent tenders facilitated by both central and state government agencies in India.

This milestone marks a significant advancement in India’s renewable energy trajectory, as Avaada Energy secures capacities of 421 MW, 280 MW, and 700 MW in tenders issued by esteemed state-owned agencies such as SECI, GUVNL, and NTPC, respectively. These forthcoming projects, slated for development in the states of Gujarat and Rajasthan, underscore Avaada’s unwavering commitment to expanding its renewable energy footprint nationwide.

Upon finalization, the Power Purchase Agreements (PPAs) inked with these agencies will extend over a commendable 25-year period, showcasing Avaada’s dedication to fostering sustainable energy generation over the long term. Foreseen to be completed within a 24-month timeframe, the SECI, GUVNL, and NTPC projects represent pivotal steps towards bolstering India’s renewable energy infrastructure.

Anticipated to yield an estimated annual output of approximately 2,410 million units of renewable energy, these solar installations are poised to electrify over 1.72 million rural households throughout India. Furthermore, this initiative is projected to make substantial strides in curbing carbon emissions, with an anticipated annual CO2 reduction of roughly 2.24 million tonnes, thus aligning seamlessly with India’s climate objectives.

Mr. Vineet Mittal, Chairperson of Avaada Group, expressed his sentiments regarding this accomplishment, stating, “The successful acquisition of these solar projects underscores Avaada Energy’s position as a trailblazer within India’s renewable energy landscape. With these latest additions, Avaada’s expansive portfolio now boasts approximately 6 GW of projects in various stages of development, complementing our operational capacity of approximately 4.1 GW. This milestone not only reaffirms Avaada’s leadership within the industry but also underscores our steadfast commitment to sustainable energy solutions that underpin India’s green energy aspirations.”