Avaada Group has laid the foundation for a new manufacturing facility. The facility will be located at the Butibori Industrial Park in Nagpur and is being constructed at an estimated budget of Rs 136.5 billion. The main focus of the facility will be the entire solar value chain. This includes ingot-wafer, photovoltaic cells, and modules. Additionally, it will also manufacture batteries and electrolysers.
Furthermore, the company has plans to establish ancillary units for components like module glass and aluminium frames. They have also partnered with local ITIs and national organisations to skill workers. The project is estimated to generate over 5,000 jobs. Further, the ancillary units are also expected to provide employment to 1,000 individuals.
In July 2024, Avaada Energy bagged a letter of award (LoA) for 820 MWp of hybrid inter-state transmission system (ISTS) capacity from SJVN Limited in the e-reverse auction conducted in June 2024. In May 2024, Avaada Energy bagged $38 million for a captive solar project located in the Kalaburagi district of Karnataka. The funding was raised from Aseem Infrastructure Finance Limited.
