Avaada Group plans to invest Rs 1 lakh crore across India over the next five years as it expands its presence in power generation and related businesses. Chairman Vineet Mittal said the group’s solar manufacturing arm has submitted documents to the regulator for its first public share sale. The group employs about 6000 people and intends to add 10000 more in the next three years as new projects come online. Last month, Avaada Electro, the…
Avaada Electro, the solar manufacturing subsidiary of the Brookfield-backed Avaada Group, has filed confidential documents with the Securities and Exchange Board of India (SEBI) to raise between Rs 90–100 billion through an initial public offering (IPO). The proposed IPO is expected to include both fresh equity issuance and an offer for sale by existing shareholders. According to market sources, the company is targeting a valuation in the range of Rs 1.10–1.30 trillion. Funds raised will…
Prime Minister Narendra Modi has laid the foundation stone for Avaada Group’s 1,560 MWp solar and 2,500 MWh battery energy storage project in Pugal, Rajasthan. He also inaugurated the company’s 200 MW AC (282 MWp) solar project at Shri Dungargarh in the Bikaner district. Together, the two projects represent an investment of over Rs 9,200 crore. The Shri Dungargarh solar project covers 777 acres and will supply electricity to Rajasthan discoms. It uses Avaada Electro’s…
Avaada Group has commissioned 11 solar power projects in Maharashtra’s Yavatmal district under the Mukhyamantri Saur Krushi Vahini Yojana (MSKVY) 2.0. 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 plant at Mhasola, 2 MW at Galwa, 4 MW each at Pathrad and Parjana, and 3 MW each at Sawargaon and Sarfali, according to the company statement. The…
Avaada Group, through its subsidiary Avaada Energy, has secured long-term power purchase agreements (PPAs) for 14,000 MW of renewable energy projects. The company has already commissioned 5,200 MW of renewable energy capacity across nine states and aims to achieve full operational capacity by 2027. Earlier this month, Avaada Group commissioned a 1,500 MW solar module manufacturing facility in Dadri, Noida. The facility focuses on TOPCon n-type bifacial glass-to-glass modules. The company is also developing a…
Avaada Group has signed a memorandum of understanding (MoU) with the Odisha government to invest Rs 207 billion in renewable energy projects. The investment will support the development of 1,500 MW of floating solar projects, two 1,000 MW Pumped Storage Projects (PSP), and green energy equipment manufacturing units. The agreement was formalized at the Make in Odisha Conclave 2025, attended by Chief Minister Mohan Charan Majhi. The event, inaugurated by Prime Minister Narendra Modi, aims…
Avaada Group has pledged an investment of Rs 1 trillion to transform Rajasthan into the world’s largest renewable energy hub. This initiative aims to drive green manufacturing, create millions of jobs, and contribute to the state’s economic empowerment.
Avaada Aqua Batteries, a subsidiary of Avaada Group, has signed a Memorandum of Understanding (MoU) with the Rajasthan government to establish a 1.2 GW pumped storage project (PSP) in the Sirohi district. With a budget of Rs 58 billion, the project is expected to be completed within five to seven years. It aims to provide Round the Clock with renewable energy and enhance grid stability by integrating solar and wind power. In October 2024, Avaada…