Avaada Energy Private Limited plans to raise Rs 84 billion (USD 1 billion) in debt by March 2025 to fund its wind, solar, and other renewable projects. Equity for these projects has already been secured. The company also intends to develop pumped storage projects (PSPs) in Rajasthan and Odisha.
Maharashtra State Electricity Distribution Company (MSEDCL) has selected JSW Neo Energy, Tata Power Renewable Energy Limited (TPREL), Avaada Energy, and Juniper Green Energy as the winners of its 1,650 MW wind-solar hybrid auction. These companies will supply power on a long-term basis from grid-connected intrastate projects. JSW Neo secured 600 MW, including 400 MW under the greenshoe option, while Tata Power won 400 MW, with 200 MW under the greenshoe option. Avaada Energy was awarded…
Avaada Energy, part of Avaada Group, has secured approximately Rs 5.97 billion in refinancing for its commercial and industrial (C&I) solar projects in Karnataka and Maharashtra. The refinancing was provided by NIIF Infrastructure Finance Limited (NIIF IFL), a debt fund focused on operational infrastructure projects. Avaada’s solar projects supply power to major corporations such as Bharti Airtel, Motherson, Bharat Forge, STT, Nxtra Data, and Lumax, supporting their energy transition initiatives. The refinancing deal allows Avaada…