Avaada Group secures $1.3 billion to develop 2,150MW renewables
Business
Avaada Group scored a massive $1.3 billion from Indian financial institutions, including SBI, REC Ltd. and Canara Bank to boost its renewable energy projects in Gujarat and Maharashtra.
The cash will help build out 2,150 megawatts of new green power through solar and hybrid (solar and wind) setups: think cleaner electricity for millions.
Long term power to GUVNL MSEDCL
These projects will deliver power under long-term agreements with state utilities GUVNL and MSEDCL, making sure both states get a steady flow of affordable, clean energy.
Avaada's chairman Vineet Mittal said the financing represents a significant milestone for Avaada Group.