Mumbai's Advaada Group to invest Rs 40,000Cr for renewable projects in Gujarat

Mumbai-based sustainable energy company Avaada Group has announced an investment of Rs 40,000 crore for the development of hybrid wind-solar projects in Gujarat. The development, encompassing 6,000 MW (6 GW) capacity, was announced alongside the Vibrant Gujarat Global Summit 2024.

Partnership with Gujarat government

Avaada Group signed a Memorandum of Understanding (MoU) with the Gujarat government with a key focus on setting up hybrid wind-solar projects across various districts of Gujarat, primarily in the underdeveloped wastelands of Kutch.

Project details 

According to a PTI report, The projects aim to supply power to different utilities in India, including GUVNL, and for Avaada's own green hydrogen/ammonia projects. The development is expected to generate 17.5 billion units of green electricity annually, reducing around 16.3 million tonnes of CO2 equivalent emissions each year.

Notably, It will power nearly 12.6 million households and significantly contribute to India's green energy supply.

The impact on economy and environment

The development of these projects is not just an environmental stride but also an economic one. It is anticipated to create 1,200 direct and indirect jobs, fostering local and regional economic development. The reduction in carbon emissions and dependency on conventional power sources marks a significant step towards sustainable energy.

Vineet Mittal, Chairperson of Avaada Group, said that besides the new 6 GW capacity, Avaada Group already has 2 GW capacity projects that are operational or in different stages of implementation in Gujarat.

Avaada Group is involved in various green initiatives, including the production of solar modules and the development of large-scale projects for green hydrogen, green methanol, green ammonia, and sustainable aviation fuel.

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