New Delhi: Avaada Group is set to add 10.5 GW of renewable energy capacity over the next two years, lifting its total operational capacity to 17.7 GW, a senior company executive said on Tuesday. Speaking to media on the sidelines of the Avaada Bharat Uday Yatra event, Avaada Energy CEO Kishor Nair said the group's renewable energy portfolio currently exceeds 17.7 GWp, comprising over 7.2 GWp of operational capacity and about 10.5 GWp under construction.
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Nair said the company was on track to reach 17.7 GW of renewable capacity within two years, with power purchase agreements (PPAs) already signed for the under-construction projects. PPAs are needed to tie up project funding with financial institutions.
Nair said a renewable energy project, covering both wind and solar, costs between Rs 4 crore and Rs 5 crore.
Avaada Group's operations 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, described as a nationwide movement to encourage greater public participation in India's clean energy transition, concluded on Tuesday in the presence of Union Minister for Jal Shakti CR Patil.
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"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," Patil said.
Avaada Group Chairman Vineet Mittal said the event, which started as an awareness initiative, had grown into a nationwide movement connecting citizens with India's clean energy future.