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Avaada Group to Invest $5 Billion to Develop 6 GW of Renewable Energy Projects in Gujarat

Last Updated on 16th January 2024

Avaada Group will invest around USD 4.81 billion for the development of 6000 MW hybrid wind-solar projects in Gujarat. The Avaada group signed an MoU with the Gujarat government during the Vibrant Gujarat global summit. The hybrid projects will be located in various districts of Gujarat, mainly in the Kutch region. Furthermore, the project is expected to generate over 17.5 billion units of green electricity.

 

 

The project will supply power to various utilities, including GUVNL (Gujarat Urja Vikas Nigam Ltd.), for captive use of Avaada’s green hydrogen projects. Green energy will be supplied to nearly 12.6 million households. Additionally, the project will generate 1200 direct and indirect jobs, which will contribute to local economic development.

 

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Vineet Mittal, Chairperson of Avaada Group, stated that apart from this new 6 GW project, Avaada group already has projects of 2 GW capacity that are operational or at various stages of implementation in the state of Gujarat  

 

The Avaada Group is involved in the manufacturing of solar modules, the generation of renewable energy, and the construction of extensive initiatives about sustainable aviation fuel, green hydrogen, green methanol, and green ammonia.

 

Read: Adani Group Will Invest $24 Billion in Gujarat for Various Projects: Gautam Adani

 

About Avaada Group

The Avaada Group is a leading integrated energy platform in India, focusing on renewable energy and sustainability solutions. Avaada Energy is a major developer of solar power projects, with over 4 GW of operational capacity and ambitious plans to reach 11 GW by 2025 and 30 GW by 2030.

 

Avaada has a state-of-the-art facility for manufacturing solar cells and modules, with an annual production capacity of 5 GW. This vertical integration helps them control costs and secure supply chains. Furthermore, Avaada is actively involved in the emerging green hydrogen and green ammonia spaces, with plans for manufacturing electrolyzers and producing green ammonia. Some of the upcoming projects executed by the Avaada Group include:

 

 

Read: Tata Power to Invest $8.7 Billion For 10,000 MW Renewable Energy Projects in Gujarat

 

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