Avaada Group and Gujarat government have signed an MoU to develop 6,000 MW wind-solar hybrid project. To be located in various districts of Gujarat, the project will be developed at a financing of Rs 400 billion. The hybrid projects, which will be mostly situated in Kutch’s underdeveloped wastelands, will provide electricity to Gujarat Urja Vikas Nigam Limited and other Indian utilities in addition to Avaada’s green hydrogen or ammonia projects for their captive use.
These initiatives are expected to significantly decrease carbon emissions and reduce reliance on traditional power sources, serving as innovative solutions that seek to transform the energy sector. They address crucial environmental and economic concerns. Anticipated to produce around 17.5 billion units of clean power each year, this is projected to result in an annual decrease of approximately 16.3 million tonnes of carbon equivalent emissions. This substantial contribution is poised to significantly enhance India’s green energy capacity, providing power to nearly 12.6 million households. Furthermore, it is expected to create approximately 1,200 direct and indirect employment opportunity, thereby playing a role in fostering economic development at the local and regional levels.
In November 2023, Avaada Energy won 1,400 MW DC solar project from NHPC Limited at a tariff of Rs 2.53 per kWh.
In October 2023, Avaada Group and Gopalpur Port Limited signed a MoU for setting up a green ammonia storage facility at the Gopalpur port.
