Avaada

Every state has execution challenges, more bullish on Maharashtra: Avaada

Renewables-focused Avaada Group is "more bullish" on Maharashtra, a top official has said, pointing out that every state will have execution challenges that have to be dealt with. The group, which runs over 6 GWp of solar and wind assets across India at present, was able to execute a project to build solar power equipment at Butibori near Nagpur in record time, the official said. ".. We are more bullish on Maharashtra because now, single window is (there) in the true sense," Vineet Mittal, the group's chairman, told PTI, pointing out that the facility near Nagpur is testimony to the same. Maharashtra is among the six states having large quantities of barren land, which offers the land bank for renewable companies, he added. Nearly a year ago, the name of Avaada was in the news after the gruesome murder of one Santosh Deshmukh in the backward Marathwada region's Beed district, allegedly after a tiff outside a wind power project by local goons. As per some reports, Deshmukh's allege

Avaada to invest ₹36,000 crore in solar, wind and BESS projects in Gujarat

The MoU signed at the Vibrant Gujarat Summit will drive over 11 GW of green capacity and create thousands of clean energy jobs across key districts

Avaada Group commissions 11 solar plants in Maharashtra under MSKVY 2.0

Diversified energy firm Avaada Group on Tuesday announced the commissioning of 11 solar power projects in Maharashtra's Yavatmal district under the Mukhyamantri Saur Krushi Vahini Yojana 2.0 to provide reliable power for irrigation. The projects include a 4 MW plant at Kinhi, 3 MW each at Baldi and Dongarkharda, 2 MW each at Bansi and Patan,a 5 MW at Mhasola, 2 MW at Galwa, 4 MW each at Pathrad and Parjana, and 3 MW each at Sawargaon and Sarfali, a company statement said. Avaada Group has commissioned 11 solar power projects in Maharashtra's Yavatmal district under the Mukhyamantri Saur Krushi Vahini Yojana (MSKVY) 2.0, a move aimed at providing farmers with reliable daytime power for irrigation and advancing the state's clean energy transition, according to the statement. The projects are expected to benefit nearly 14,900 farmers across 167 villages by improving irrigation facilities, reducing costs, and creating additional income opportunities, while ensuring a reliable supply of

CM Yogi Adityanath inaugurates Avaada Group's 1.5GW solar facility in Noida

Avaada Group said that Uttar Pradesh Chief Minister Yogi Adityanath has inaugurated its 1.5 GW solar module manufacturing Gigafactory in Noida. The foundation stone has also been laid for Avaada Electro's ambitious 5 GW integrated solar manufacturing unit at Ecotech, Greater Noida, the company said in a statement. The 1.5 GW PV module manufacturing unit in Dadri is a significant step in Avaada Group's commitment to sustainable innovation. Constructed at an unprecedented pace, the first phase of the gigafactory became operational within just 3.5 months, with all utilities and module production lines fully commissioned, according to the statement. The facility specialises in TOPCon N-Type bifacial glass-to-glass PV modules, incorporating advanced multi-busbar configurations (16 to 24 bus bars) to maximize efficiency. The facility specialises in TOPCon N-Type bifacial glass-to-glass PV modules, featuring advanced multi-busbar configurations (16 to 24 busbars) to enhance efficiency.

Avaada, Casale partner to develop India's largest green ammonia plant

Avaada Group on Friday announced its strategic collaboration with Casale to develop India's largest green ammonia plant, with an annual production capacity of 1,500 tonnes per day, in Gopalpur, Odisha. This milestone project marks a major advancement in Avaada's mission to drive decarbonisation, innovation, and sustainable industrial growth, further solidifying its role in India's clean energy revolution, a company statement said. According to the statement, Avaada Group, a leader in India's renewable energy sector, inked a strategic collaboration with Casale, a global pioneer in ammonia technology, to develop a 1,500 tons per day (TPD) green ammonia plant in Gopalpur, Odisha. The Gopalpur plant will be powered entirely by renewable energy, utilising Casale's advanced ammonia production technology to ensure a carbon-free process. It will provide the green ammonia process license, basic engineering package, proprietary equipment, and detailed engineering review, helping to create a .

Avaada Group gets Rs 8,500 cr commitments for nine projects for Q3FY24

Avaada Group on Wednesday said it has secured financial commitments worth Rs 8,500 crore from multiple lenders, including SBI and Yes Bank, for its nine projects. The financial closure for the 9 projects includes a mix of utility-scale independent power projects (IPPS), large-scale agri photovoltaic projects, merchant power generation projects, commercial and industrial projects and the group's green module manufacturing business. "Avaada Group has successfully completed financing/ refinancing of 9 of its projects across the business divisions totalling for an amount of Rs 8,500 crore (USD 1 billion), showcasing the company's commitment to advancing renewable energy solutions across India," the company said in a statement. These financing came through multiple transactions with a diverse set of lenders ranging from leading public sector banks like SBI and Union Bank, financial institutions like NABFID and PFC, and from sector Standard Chartered, Axis Bank, Yes Bank, Tata Capital, ..

Avaada Group to set up 2 pumped storage power projects worth Rs 14k cr

Avaada Group on Monday announced that it has inked an agreement to develop two pumped storage power projects with combined capacity of 2,750 MW, entailing an investment of Rs 14,000 crore. The agreement was signed between the Water Resources Department, Government of Maharashtra, and Avaada Aqua Batteries Pvt Ltd, a subsidiary of Avaada Group, in the presence of Maharashtra Deputy Chief Minister Devendra Fadnavis and Avaada Group's Chairman Vineet Mittal, according to a company statement. This agreement not only cements Avaada's role in Maharashtra's energy landscape but also underscores the company's unwavering commitment to advancing renewable energy across the state, the company said. The two projects include the 1,500 MW Pawana Falyan PSP in the Pune & Raigad districts and the 1,250 MW Kumbhavade PSP in the Kolhapur & Ratnagiri districts. With a total investment of approximately Rs 14,000 crore over the next 5-7 years, these projects are poised to play a transformative ...

Coal doesn't make sense in today's environment: Avaada group chairman

Mittal has raised $2.6 billion since 2023 from Canadian fund Brookfield and Thailand's state-run oil company PTT group, enabling him to participate and win several bids this year

Avaada Energy secures Rs 4,471 crore refinancing from lender Nabfid

The structure has been rated as 'AA (Stable)' by CareEdge Ratings, it said

Avaada Energy secures 1,400 MWp solar projects from state-owned agencies

Avaada Energy on Friday said it has secured over 1,400 MWp solar projects across the country from state-owned agencies. The company has secured projects with capacities of 421 MW, 280 MW, and 700 MW in tenders issued by SECI, GUVNL, and NTPC, respectively, according to a statement. These projects, slated for development in Gujarat and Rajasthan, underscore the company's commitment to expanding its renewable energy footprint in India, the statement said. "Avaada Energy, a key entity in the Avaada Group's renewable energy division, is pleased to announce its successful acquisition of approximately 1,400 MWp in solar energy projects through recent tenders by central and state government agencies in India," it said. The Power Purchase Agreements (PPAs) with these agencies will span 25 years. These projects are slated for completion within a timeframe of 24 months. Upon commissioning, these solar installations are expected to generate an estimated annual output of approximately 2,410

Avaada Group to invest Rs 40,000 cr in 6 GW renewable projects in Gujarat

Avaada Group on Monday said it has committed investments worth Rs 40,000 crore for development of 6,000 MW hybrid wind-solar projects in Gujarat. The agreement was signed in the presence of Gujarat Chief Minister Bhupendrabhai Patel on the sidelines of the Vibrant Gujarat Global Summit 2024 on January 10-12 at Gandhinagar, a company statement said. According to the statement, Avaada Group has signed a Memorandum of Understanding (MoU) with the Gujarat government. This strategic alliance aims to set up hybrid wind-solar projects with an aggregate 6,000 MW (6 GW) capacity in the state with an investment of about Rs 40,000 crore. The group's commitment to green initiatives in Gujarat is underscored by substantial investments in the development of a robust renewable energy ecosystem. The hybrid projects, located in various districts of Gujarat, predominantly in the underdeveloped wastelands of Kutch, will supply power to various utilities of India including GUVNL (Gujarat Urja Vikas N

Come rain or shine: Avaada, others up the ante against conglomerates

'You can easily multiply capacity, but the biggest challenge to do any larger project in India is availability of land, availability of evacuation, funding, and the offtake agreement'

Avaada Energy, Al Jomaih Energy Water partner for green energy projects

Green energy developer Avaada Group on Monday announced that it has entered into an agreement with Al Jomaih Energy and Water (AEW) to develop renewable power projects in Saudi Arabia. The projects will be developed in Saudi Arabia and selected Middle Eastern regions, Avaada Group said in a statement. "Avaada Energy (group firm) announces a strategic partnership with AEW to pioneer renewable power generation in the Kingdom of Saudi Arabia and selected Middle Eastern regions," the company said. Vineet Mittal, Chairman of Avaada Group, said the alliance is set to explore the potential of solar, wind, hybrid, and battery Energy Storage solutions. Under the Memorandum of Understanding (MoU), AVAADA will act as a technology partner and provider of solutions for renewable energy (RE) installations, while AEW will provide essential resources, the statement said. The MoU was announced amid Saudi Crown Prince Mohammed Bin Salman Bin Abdulaziz Al-Saud's official state visit to India. Prime

AVAADA, Tata Steel SEZ to set up green hydrogen, ammonia unit in Odisha

AVAADA Group on Thursday said it has signed an agreement with Tata Steel Special Economic Zone Ltd (TSSEZL) to set up a green hydrogen and ammonia manufacturing unit in Odisha. The unit will be set up at Gopalpur Industrial Park in Ganjam district in Odisha. In a statement, AVAADA Group announced "an initiative to establish a cutting-edge green hydrogen and ammonia manufacturing unit in Odisha. This significant move comes in the wake of a Memorandum of Understanding (MoU) inked with Tata Steel Special Economic Zone Limited (TSSEZL)". The company did not disclose financial details related to the proposed project. The project is expected to generate around 1,600 direct and 4,000 indirect employment opportunities and aims to curtail nearly 2 million tonne of Co2 emissions annually. AVAADA Group Chairman Vineet Mittal said, "The collaboration is geared towards fast-tracking the shift to green energy and bolstering India's ambition to emerge as a global green hydrogen manufacturing hub

Avaada Energy bags renewable energy project from Solar Energy Corp India

Avaada Energy on Monday said it has bagged a 280 megawatt renewable energy project from Solar Energy Corporation of India (SECI). SECI is the nodal agency of the central government for auctioning renewable energy projects. "Avaada Energy has won the 280 MWp project under tariff-based competitive bidding carried out by SECI as a part of SECI's 2 GW ISTS (inter-state transmission system ) connected solar projects (Tranche XI)," the company said in a statement. The bidding allows flexibility to Avaada Energy to set up the solar power project anywhere in India and supply green electricity on long term at a tariff of Rs 2.61/kWh (kilowatt hour). The project will become operational within 18 months from the signing of power purchase agreement (PPA), it said. The company did not disclose any financial details related to the project. As per industry standards, Rs 6-7 crore is required to set up 1 MW of green energy capacity.

REC, Avaada Group sign pact for energy projects worth Rs 20,000 crore

Rural Electrification Corporation (REC) has signed a memorandum of understanding with Avaada Group to fund its energy transition projects worth Rs 20,000 crore. The MoU was signed between REC officials and Avaada Group Chairman Vineet Mittal at the sidelines of the ongoing G20 Clean Energy Ministerial meeting in Goa. Avaada is a leading company in India's renewable energy sector. Mittal said projects, spanning across various states, will be implemented over the next two years. The total projects are worth Rs 20,000 crore. This landmark collaboration with REC symbolises a monumental stride towards India's energy self-sufficiency, he noted. "It exemplifies our staunch commitment to nurturing a sustainable future and propelling India's green energy transition," he added. Mittal said there is a project in Bihar, another in Rajasthan, and also there are projects in Maharashtra, which would be implemented over the next two years. He said that in the coming five years, Avaada is primed

India in talks to supply tonnes of green hydrogen to EU, Singapore: Report

The meeting was attended by officials from EU governments and Indian renewable companies, including Avaada Group, Renew Power and ACME Group

Avaada Energy bags 400 MW solar project from Gujarat Urja Vikas Nigam

Avaada Energy on Thursday said it has bagged a 400 MW solar project from Gujarat Urja Vikas Nigam Ltd. The company did not disclose the financial details of the project. "Avaada Energy, an arm of Avaada Group India's leading integrated energy group with business interests in renewable power generation, solar module manufacturing, electrolyser manufacturing and Green Ammonia production, has received the Letter of Intent (LoI) from Gujarat Urja Vikas Nigam Limited (GUVNL) to set up 400 MW (DC) solar project," a company statement said on Thursday. The company has won 200 MW under base capacity at a tariff of Rs 2.75/kWh and another 200 MW under a green shoe option at a tariff of Rs 2.71/kWh from GUVNL under a tariff-based competitive bidding process followed by an e-Reverse auction. Post commissioning, the plant will produce 740 million units of green electricity per year, leading to a reduction of approximately 6,88,940 tonnes of CO2 equivalent emissions, annually. "This is another

Avaada Energy bags 280 MW solar project from Rajasthan Urja Vikas Nigam

Avaada Energy on Tuesday said it has bagged a 280 megawatt (MW) solar project from Rajasthan Urja Vikas Nigam Limited (RUVNL). The project, bagged through a bidding process, will be commissioned within 18 months, the Avaada Group company said. As per the bid terms, the solar power generated from the project will be supplied to RUVNL for 25 years at a tariff of Rs 2.62 per kWh (kilowatt hour), it said in a statement. Avaada Energy CEO Kishor Nair said, "This is another feather in our cap as we expand our presence in Rajasthan. I am certain that such ambitious projects, built with collaborations with the government, will lead India to a greener future." The plant will generate about 500 million units per annum which will help to reduce 4,65,500 tonnes of CO2 equivalent emissions annually. The solar project can potentially power 3.6 lakh households with green energy.

Avaada Ventures secures $1.07 billion funding for expansion plans

Avaada Ventures recently signed a memorandum of understanding with the Rajasthan government worth Rs 40,000 crore for setting up a green ammonia manufacturing plant