Avaada Group Targets 5GW Boost in Renewable Projects by FY27

Avaada Group sets its sights on increasing its renewable energy portfolio by 5 gigawatts (GW) within the current financial year, having secured power purchase agreements and connectivity for these projects. This effort will propel their total operational capacity to 12GW by March 2027.

The previous fiscal year saw Avaada add 2GW, although plans for an additional 1-2GW were hampered by delays in signing agreements and infrastructure challenges. Chairman Vineet Mittal stated these impediments forced adjustments to their schedule. The new projects will include solar, wind, and battery energy storage, prominently featuring in regions like Maharashtra, Gujarat, and Rajasthan.

In parallel, Avaada is investing in a manufacturing expansion at Nagpur, constructing a super factory to streamline the production of ingots, wafers, cells, and modules under one roof. Mittal highlighted the upcoming facility's capability to cut import dependency by over 90%, placing emphasis on sustainability and integrated production.

(With inputs from agencies.)