Avaada Group Invests Rs 40,000 Crore in Gujarat

0
Wind-Solar-Hybrid-Project

Avaada Group has announced its plans to invest Rs 40,000 crore towards the advancement of hybrid wind-solar projects with a total capacity of 6,000 MW in the state of Gujarat, as conveyed in an official statement released by the company. The formal agreement was executed in the esteemed presence of Gujarat Chief Minister Bhupendrabhai Patel at the Vibrant Gujarat Global Summit 2024.

The Avaada Group specializes in the manufacturing of solar modules, harnessing renewable energy for power generation, and leading expansive initiatives in the creation of substantial projects dedicated to green hydrogen, green methanol, green ammonia, and sustainable aviation fuel.

Avaada is focused on advancing environmentally conscious solutions, contributing to the development and deployment of innovative technologies that promote sustainable energy practices across various sectors. The company’s comprehensive portfolio encompasses the entire spectrum of the renewable energy landscape, positioning Avaada as one of the key players in fostering a greener and more sustainable future.

As per the announcement made by Avaada Group, the company has formalized a Memorandum of Understanding (MoU) in collaboration with the Gujarat government. This synergistic partnership is geared towards the establishment of hybrid wind-solar projects within the state, collectively boasting an impressive capacity of 6,000 megawatts (MW) or 6 gigawatts (GW). The ambitious venture is set to receive an investment infusion of approximately Rs 40,000 crore.

The group’s focus on eco-friendly initiatives in Gujarat is evident through significant investments in establishing a resilient renewable energy infrastructure. Spanning across diverse districts of Gujarat, with a particular emphasis on the underdeveloped wastelands of Kutch, the hybrid projects are strategically positioned to provide power to multiple utilities across India, including GUVNL (Gujarat Urja Vikas Nigam Ltd).

Additionally, these projects are poised to cater to the energy needs of Avaada’s green hydrogen and ammonia initiatives for captive consumption. The robust renewable energy ecosystem being developed underscores the group’s unwavering commitment to sustainable practices and environmental stewardship in the region.

These initiatives are poised to significantly diminish carbon emissions and decrease reliance on traditional power outlets. Anticipated to produce an annual output of 17.5 billion units of environmentally friendly electricity, this endeavor is projected to curtail approximately 16.3 million tonnes of CO2 equivalent emissions each year. This substantial reduction will play a pivotal role in bolstering India’s renewable energy inventory, supplying a substantial portion of green power to the nation and meeting the energy needs of nearly 12.6 million households.

Furthermore, the establishment of this strategic partnership is a clear manifestation of our steadfast dedication to nurturing a thriving and sustainable clean energy ecosystem. In addition to formalizing the agreement for the development of a new 6 GW capacity in the state, Avaada Group is actively engaged in projects amounting to a 2 GW capacity. These ongoing initiatives are either operational or progressing through various stages of implementation within the state of Gujarat. 

The anticipated outcome of this collaboration extends beyond the realm of energy production, as it is intends to generate a substantial impact on the socio-economic landscape by creating a total of 1,200 direct and indirect job opportunities. This, in turn, will contribute to fostering local and regional economic development.

LEAVE A REPLY

Please enter your comment!
Please enter your name here