Avaada to invest Rs40,000 cr across 6 GW wind-solar projects in Gujarat
19 Jan 2024
Green energy producer Avaada Group has committed investments of an aggregate Rs40,000 crore in Gujarat to set up hybrid wind-solar projects with a total installed capacity of 6,000 MW (6 GW). Avaada also signed a memorandum of understanding with the government of Gujarat for setting up a combination of wind and solar power projects across the state.
Avaada's green energy initiatives, combined with other such projects being set up by various other groups, will help develop a robust renewable energy ecosystem in the state.
As per the MoU signed during the Vibrant Gujarat Summit 2024 at Gandhinagar, Avaada will be setting up these hybrid green energy projects mostly in underdeveloped areas and waste lands of Kutch. Power generated at these projects will be supplied to various utilities in the country as well as for captive use in Avaada’s Green Hydrogen and Green Ammonia projects.
With an estimated annual generation of 17.5 billion units of green electricity, limiting dependence on conventional power sources besides substantially reducing carbon emissions, thereby revolutionising the country’s energy landscape and its environment.
This will lead to a reduction of approximately 16.3 million tonnes of CO2 equivalent emissions annually and supply of power to nearly 12.6 million households.
These projects will generate around 1,200 direct jobs besides generating thousands more in indirect employment.
“Renewable energy along with green hydrogen and its derivatives have emerged as powerful substitutes for fossil fuels, driving rapid decarbonisation across various industries and regions. With its abundant natural resources including 300 sunshine days, availability of vast wasteland and long coastline, Gujarat has the potential to significantly contribute towards meeting the global demand for alternative solutions for fossil fuels,” Vineet Mittal, chairperson of Avaada Group, said.
Avaada Group already has renewable power projects of over 2 GW capacity that are operational or at various stages of implementation in the state.
Avaada Group is an integrated energy company having presence across the entire spectrum of the renewable energy value chain, including the production of solar modules, power generation, and development of large-scale projects for green hydrogen, green methanol, green ammonia, and sustainable aviation fuel.
