Avaada Group has announced plans to invest Rs 40,000 crore in developing 6,000 MW hybrid wind-solar projects in Gujarat. The agreement was formalized in the presence of Gujarat Chief Minister Bhupendrabhai Patel during the Vibrant Gujarat Global Summit 2024 held from January 10-12 in Gandhinagar.

Memorandum of Understanding (MoU) with Gujarat Government

The Avaada Group has inked an MoU with the Gujarat government to establish hybrid wind-solar projects with a collective capacity of 6,000 MW in the state. This substantial investment underscores the group’s commitment to promoting green initiatives and fostering a robust renewable energy ecosystem.

Project Details

The hybrid projects will be situated across various districts of Gujarat, particularly in the underdeveloped wastelands of Kutch. They are designed to supply power to multiple utilities across India, including the Gujarat Urja Vikas Nigam Ltd (GUVNL), and for captive use in Avaada’s green hydrogen/ammonia projects. By tapping into renewable sources, these projects aim to significantly reduce carbon emissions and decrease reliance on traditional power sources.

Environmental Impact and Job Creation

With an anticipated annual generation of 17.5 billion units of green electricity, the projects are expected to mitigate approximately 16.3 million tonnes of CO2 equivalent emissions annually. This substantial reduction will contribute significantly to India’s green energy supply and provide electricity to nearly 12.6 million households. Additionally, the initiative is projected to create 1,200 direct and indirect jobs, thereby promoting local and regional economic development.

Commitment to Clean Energy

Vineet Mittal, Chairperson of Avaada Group, emphasized the company’s steadfast commitment to fostering a clean energy ecosystem. Apart from the newly announced 6 GW capacity, Avaada Group already has projects totaling 2 GW capacity in various stages of implementation in Gujarat. The group’s portfolio encompasses solar module production, renewable power generation, and the development of large-scale projects for green hydrogen, green methanol, green ammonia, and sustainable aviation fuel.