Page 2 - Avaada

Brookfield to invest $1 bn in Avaada Group to fund green hydrogen project

Avaada currently operates a renewable energy portfolio of 4 gigawatt (GW) with plans to reach 11 GW by 2026

Avaada Energy gets 421 MW solar project from Damodar Valley Corporation

Renewable energy company Avaada Energy on Friday said it has bagged a 421 MW solar project from Damodar Valley Corporation (DVC). The project was awarded through a competitive bidding followed by an e-reverse auction in which Avaada emerged as the winner with a quoted tariff of Rs 2.70/kWh. In a statement, Avaada said "it has won the 421 MW (DC) ISTS-connected Solar PV bid in an auction conducted by REC Power Development and Consultancy Ltd (RECPDCL) on behalf of DVC." As per bid terms, a power purchase agreement will be inked between the two entities for 25 years, and the project will be commissioned within 18 months. The plant is expected to generate about 750 million units green energy annually which will reduce 6,98,250 tonne CO2 equivalent emissions. The solar project can potentially power 5 lakh households. "India is one of the fastest-growing markets for renewable energy globally. With ambitious targets and commitments to a green future, we are confident that massive ...

First Solar, Reliance, Avaada Group among winners of $2.4 bn green aid

The 39.6 gigawatts of manufacturing capacity is expected to require investment of 930.4 billion rupees, according to a government statement

Viraj Profiles with Avaada Energy to set up 100 MW solar plant in Maha

Stainless steel maker Viraj Profiles along with Avaada Energy will set up a 100 MW solar project in Tarapur, Maharashtra. The aim is to make the captive project operational by February 2024, Viraj Profiles said in a statement on Friday. The company did not disclose financial details of the project. According to industry estimates, an investment of about Rs 5 crore is required to set up every 1 MW of solar capacity. Once commissioned, the plant will generate about 207 million units of green energy per year, which will offset approximately 182 million kilos of CO2, the statement said. "Viraj Profiles along with Avaada Energy shall set up a special purpose vehicle (SPV) to build the 100 MW captive solar plant," it said. The power generated will be used for captive consumption by Viraj Profiles' stainless steel unit in Tarapur, reducing its dependence on conventional sources by 50 per cent.

Reliance, Tata Power, others bid for Rs 19,500 cr solar incentives

The financial assistance is part of PM Modi's aim to turn the nation into a manufacturing powerhouse, creating more jobs in the economy and reducing imports that can drain foreign exchange

Thailand's Global Power System acquires 41% stake in Avaada Energy

The acquisition has been made through Global Renewable Synergy Company Ltd, a wholly-owned subsidiary of Global Power Synergy Public Company Limited

Bharti Airtel to acquire 5.2% stake in Avaada MHBuldhana for Rs 4.55 cr

Avaada MHBuldhana Private Limited is a newly-formed company and developing a captive generating solar power plant in Maharashtra which will become operational by March 2021

Avaada Energy gets $15 mn funding from French finance institution Proparco

In April, Avaada received a total investment of over Rs 1,000 crore from Asian Development Bank, DEG, Dutch finance development company FMO and company's promoter

Avaada to raise funds abroad for solar energy projects in Vietnam, Africa

Avaada says it is looking at 5,000 Mw in solar and wind energy, both in India and abroad