Strengthening Renewable Energy Landscape
The Avaada Group has solidified its commitment to India’s renewable energy sector by officially signing a Memorandum of Understanding (MoU) with the Gujarat government. This strategic partnership sets the stage for the development of hybrid wind-solar projects, boasting a combined capacity of 6000 MW (6 GW) and requiring an investment of approximately Rs 40,000 crore.
The formal agreement was inked during the Vibrant Gujarat Summit 2024 in Gandhinagar, witnessing the presence of Gujarat’s Chief Minister, Bhupendra Patel, and other dignitaries.
Sustainable Initiatives and Green Milestones
The Avaada Group’s collaboration with the Gujarat government underscores its dedication to green initiatives in the state. This partnership marks a significant milestone in the journey towards a sustainable and eco-friendly future.
The hybrid projects will be strategically situated in various districts of Gujarat, with a focus on underdeveloped wastelands in Kutch. These projects aim to address the power needs of utilities like Gujarat Urja Vikas Nigam (GUVNL).
Impactful Environmental Contributions
Anticipated to generate 17.5 billion units of green electricity annually, the project is expected to curtail approximately 16.3 million tons of CO2 equivalent emissions each year. This aligns with India’s green energy goals and can potentially power around 12.6 million households.
The ambitious venture is not only environmentally impactful but also contributes to local and regional economic development. With an estimated generation of 1200 direct and indirect jobs, the project promotes socio-economic growth.
Avaada Group’s Vision and Commitment
Vineet Mittal, Chairperson of Avaada Group, expressed enthusiasm for this collaboration, emphasizing the potential of Gujarat in contributing to global decarbonization. He highlighted the company’s dedication to fostering a robust, clean energy ecosystem. Mittal highlighted the ongoing commitment of Avaada Group to sustainable energy solutions. In addition to the new 6 GW capacity, the company already has operational or in-progress projects totaling around 2 GW in Gujarat.
Avaada Group’s entry into these transformative projects signals a significant stride towards a cleaner and greener future, showcasing its pivotal role in India’s renewable energy landscape.
Source：businessworld.in
