Avaada Energy’s INR 50 Billion Investment to Power Maharashtra’s Agriculture with 1,138 MW Solar Capacity

In a groundbreaking initiative to foster sustainable rural development and bolster energy security, Avaada Energy, the renewable energy division of Avaada Group, has been bestowed with the ‘Letter of Award’ (LoA) by MSEB Solar Agro Power Limited (MSAPL), a subsidiary of the Government of Maharashtra. This prestigious recognition mandates Avaada Energy to spearhead the development and operation of decentralized agricultural solar PV projects, cumulatively amounting to 1,138 MW, across Maharashtra by 2025.

This project is part of the Mukhyamantri Saur Krushi Vahini Yojana 2.0 (MSKVY 2.0) or ‘Mission 2025’, an ambitious endeavor aimed at revolutionizing the agricultural energy landscape of Maharashtra with a goal of solarizing 30% of agricultural feeders by 2025. The initiative received official endorsement during a ceremony graced by the Hon’ble Deputy Chief Minister of Maharashtra, Shri Devendra Fadnavis, underscoring the government’s dedication to improving the livelihood of the farming community and enhancing the state’s industrial competitiveness on a global scale.

Maharashtra, with its vast consumer base of approximately 29 million, of which 4.5 million are engaged in agriculture consuming 22% of the state’s electricity, has long faced challenges with ensuring reliable daytime power supply for irrigation. The decentralization of Agriculture Solar PV projects, entailing an investment of INR 50bn across 192 locations in 10 districts, emerges as a strategic solution to this issue, promising uninterrupted daytime power and generating about 2,500 direct and indirect jobs, thereby fostering local and regional economic development.

Highlighting the significance of the MSKVY 2.0 scheme, Shri Devendra Fadnavis remarked on its pivotal role in advancing rural prosperity and sustainable energy solutions. Shri Vineet Mittal, Chairperson of Avaada Group, also expressed optimism about the initiative’s potential to offer a steady electricity supply for irrigation, create employment opportunities, and improve income avenues for farmers.

Aligned with the PM-KUSUM Yojana, a nationwide scheme by the Government of India, the solarisation of agricultural feeders under MSKVY 2.0 aims to address daytime electricity needs for irrigation, streamline the load curve, minimize carbon emissions, enhance the state’s power distribution framework, and contribute to the reduction of AT&C losses for the Maharashtra State Electricity Distribution Company Limited. The projects are also expected to electrify approximately 425,000 households and significantly reduce CO2 emissions by 1.75 million tonnes annually, showcasing the initiative’s environmental and societal benefits.