Avaada Group signs INR 5000 Cr MoU to develop renewable energy infrastructure
Published by Abby Butler,
Editorial Assistant
Energy Global,
Avaada Group, a leading player in India’s renewable energy sector, has signed a memorandum of understanding (MoU) with the Government of Bihar to develop 1 GW of renewable energy projects across the state.
As per the signed MoU, Avaada will invest INR 5000 crore (around £430 million) for developing an aggregate of 1 GW capacity of renewable energy projects, encompassing ground-mounted and floating solar, community solar plants, battery storage projects, etc. The state government will also facilitate the company in obtaining necessary approvals or clearances from the concerned departments of the state.
The MoU was signed between Bihar Renewable Energy Development Agency, and Shri Kishor Nair, CEO, Avaada Energy Private Ltd.
Shri Vineet Mittal, Chairman, Avaada Group, complemented Bihar Government and Energy Department in bringing in such a policy, which will attract more investment in renewable energy sector within the state.
Shri Kishor Nair, CEO, Avaada Energy, added: “At Avaada, we are committed to accelerating India’s energy transition while contributing to regional growth and development. Our partnership with the Government of Bihar marks a significant step towards harnessing the state’s renewable energy potential through ground-mounted, floating, community solar plants, battery storage project, etc. Beyond clean energy generation, this investment will create employment opportunities, attract allied industries, and foster sustainable socio-economic progress. We are proud to support Bihar’s vision for a greener, more prosperous future.”
These projects are expected to provide direct employment to 500 people, with production likely to commence within 2 years after the PPAs are executed with Bihar state agencies and facilitation of land/water bodies by the Government of Bihar. Avaada will also be entitled to get incentives as per the state government’s applicable incentive rules and policy.
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Read the article online at: https://www.energyglobal.com/solar/31072025/avaada-group-signs-5000-cr-mou-to-develop-renewable-energy-infrastructure/
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