Talking to PTI on the sidelines of the Avaada Bharat Uday Yatra event, Avaada Energy CEO Kishor Nair stated that the group currently has a renewable energy portfolio surpassing 17.7 GWp, including over 7.2 GWp of operational capacity and approximately 10.5 GWp under construction.
He said the company is on track to achieve 17.7 GW of renewable energy capacity in the next two years, as power purchase agreements (PPAs) have already been signed for under-construction projects.
PPAs are required to tie up funds with financial institutions for funding the projects.
He said that the cost of a renewable energy project, for both wind and solar energy, ranges from Rs 4-5 crore.
Avaada Group’s businesses span renewable power generation, solar PV manufacturing, green hydrogen and its derivatives, green data centres, pumped storage projects and energy storage solutions.
The Avaada Bharat Uday Yatra, a nationwide movement aimed at fostering greater public participation in India’s clean energy transition, concluded on Tuesday in the presence of Union Minister for Jal Shakti C R Patil.Patil said, “India’s journey towards sustainable development requires active participation from every citizen… Avaada Bharat Uday Yatra …has taken the message of sustainability directly to communities across the country and inspired citizens to become stakeholders in India’s green future.”
Vineet Mittal, Chairman, Avaada Group, said that the event, which began as an awareness initiative, has evolved into a nationwide movement that connected citizens with India’s clean energy future.