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Avaada Power inks pact to develop 500MW solar capacities in Andhra Pradesh

Power News - Published on Thu, 01 Mar 2018

Image Source: SteelGuru
Avaada Power Pvt Ltd, India’s leading clean energy company , close on the heels of its recent announcement, has partnered with the Government of Andhra P radesh to develop 500 MW utility-scale solar projects. Reinforcing its commitment towards bringing sustainable energy to India, A vaada plans to invest INR 3,500 crores in the state. This investment will generate enough clean energy to sustainably power over 2. 40 million households ac ross Andhra P radesh. The agreement was signed at “CII Partnership Summit 2018” held in Vishakhapatnam.

As a leading state in RE installations ranking second in India, the Government of Andhra Pradesh has set a target to achieve 18 GW renewable energy capacities by the year 2021-22. The investment by A vaada Power is expected to generate more than 1,200 employment opportunities. The Memorandum of Understanding is a step in the direction of achieving the government’s RE objective, approximately 8,32,200 tonnes of CO 2 emissions will be mitigated annually by this project in the state.

Speaking on the development Mr Vineet Mittal, Chairman Avaada Group said, “At Avaada, we believe that business and sustainability go hand-in-hand. Our business strategies are inter-woven with the government ’s mission of promoting renewable energy in the country. We are mak ing significant investments in innovative clean energy s olutions with a foc us on solar and wind energy sectors. The company has set a target of achieving 5GW capacity in the next four years. With this, we aspire to play a pivot al role in meeting the increasing energy needs reiterating our commitment towards delivering clean and sustainable energy to all.”

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Posted By : Nanda Koijam on Thu, 01 Mar 2018
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