Avaada Energy has successfully completed the refinancing of ₹597 crore for its solar projects located in Karnataka and Maharashtra. The renewable energy leader, part of Avaada Group, announced that the refinancing was obtained through NIIF Infrastructure Finance Ltd (NIIF IFL), an infrastructure debt fund focused on high-quality operational projects.
These solar projects provide power to major corporations like Bharti Airtel, Motherson, Bharat Forge, STT, Nxtra Data, and Lumax, supporting their transition to sustainable energy. The new financing terms will help Avaada Energy prepay existing loans, lower financing costs, and free up capital for future investments.
Vineet Mittal, Chairman of Avaada Group, stated, “The improved financial structure strengthens the position of these projects, delivering value for all stakeholders.” The company is a leading Indian renewable energy company focused on developing and delivering clean, sustainable energy solutions.
As a key player in the solar and renewable energy sector, the company is committed to accelerating the transition towards a greener future by building large-scale solar power projects. With a diversified portfolio that spans solar, wind, and hybrid energy projects, the company has set ambitious goals to contribute significantly to India’s renewable energy targets.
Avaada’s innovative approach to harnessing clean energy, combined with its commitment to sustainability and reducing carbon emissions, has made it a pivotal force in the country’s efforts to meet its renewable energy goals. Through strategic partnerships and investments, Avaada Energy continues to expand its capacity and make renewable energy more accessible across India and beyond.
