Avaada Group to invest Rs 40,000 cr in RE projects in Gujarat

The Avaada Group has pledged investments worth Rs 40,000 crore for the development of 6,000 MW (six GW) wind-solar hybrid projects in Gujarat. The agreement was signed in the presence of Gujarat Chief Minister Bhupendrabhai Patel on the sidelines of the Vibrant Gujarat Global Summit 2024 in Gandhinagar.

The hybrid projects, located primarily in the underdeveloped wastelands of Kutch, will provide power to various utilities, including Gujarat Urja Vikas Nigam (GUVNL), and for captive use of Avaada's green hydrogen/ammonia projects . Additionally, these projects will significantly reduce carbon emissions, enabling an estimated annual production of 17.5 billion units of green electricity, and the associated reduction of approximately 16.3 million tonnes of CO2 equivalent emissions per year. This would significantly contribute to India’s green energy supply by powering nearly 12.6 million homes.

Additionally, this will generate 1,200 direct and indirect employment opportunities, thereby contributing to local and regional economic development and paving the way for a robust renewable energy ecosystem.

Additionally, the group involved in the production of solar modules and large-scale projects for green hydrogen, green methanol and others, has projects with a capacity of two GW which are operational or at various stages of implementation. works in Gujarat.

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