Avaada Group plans to invest Rs 5,000 cr in Madhya Pradesh's energy sector

Avaada Group, which operates in the renewable energy sector, has proposed to invest Rs 5,000 crore in Madhya Pradesh. The group officials made this proposal during a one-to-one conversation with Chief Minister Mohan Yadav on Monday. The Chief Minister was in Gandhinagar to participate in the three-day Renewable Energy Investors Meet, inaugurated by Prime Minister Narendra Modi.

Avaada Group focuses on the development of large-scale projects for solar modules, renewable energy production, green hydrogen, green methanol, green ammonia, and sustainable aviation fuel.

The Wind Power Association urged the Chief Minister to develop wind parks in the state on the lines of solar parks. Torrent Power requested the formulation of a policy for pump hydro storage projects in the state, while Sembcorp Group expressed interest in investing in the proposed Morena and Neemuch solar projects. Borosil Group showed interest in setting up a glass production unit for solar panels in the state.

On this occasion, Chief Minister Yadav stated that the state would start producing more than 20,000 megawatts of renewable energy in the next few years and that by 2030, 50 per cent of the total energy would come from renewable sources. In 2012, the state had a renewable energy capacity of about 500 megawatts. Currently, the total capacity has increased to 7,000 megawatts, which marks a 14-fold increase over the past 12 years. The Chief Minister added that the Rewa Solar Plant project has been included as a case study in the Harvard University curriculum. He also noted that Madhya Pradesh has an electricity surplus, with power being supplied to the Delhi Metro.