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Avaada Group expects to increase its renewable energy capacity to 17.7 GW over the next two years as it advances projects currently under construction. The company’s renewable energy portfolio already exceeds 17.7 GWp, comprising more than 7.2 GWp of operational assets and around 10.5 GWp under development. According to the company, power purchase agreements (PPAs) have been secured for the projects under construction, providing the foundation for financing and execution. Avaada’s business interests span renewable power generation, solar photovoltaic manufacturing, green hydrogen, energy storage, pumped storage projects and green data centres. The update was shared during the conclusion of the Avaada Bharat Uday Yatra, a nationwide initiative aimed at promoting public participation in India’s clean energy transition and sustainability goals.
Avaada Group is on course to expand its renewable energy capacity to 17.7 GW within the next two years, supported by a substantial project pipeline and secured power purchase agreements for assets currently under development, according to senior company officials.
Speaking on the sidelines of the Avaada Bharat Uday Yatra event on June 16, Kishor Nair, Chief Executive Officer of Avaada Energy, stated that the group’s renewable energy portfolio currently exceeds 17.7 GWp. This includes more than 7.2 GWp of operational capacity and approximately 10.5 GWp of projects under construction across various renewable energy segments.
Nair said the company expects the under-construction projects to become operational within the next two years, enabling the group to achieve a total installed renewable energy capacity of 17.7 GW. He noted that power purchase agreements have already been signed for these projects, providing revenue visibility and facilitating financial closure.
Power purchase agreements play a critical role in renewable energy development by ensuring long-term offtake arrangements and enabling developers to secure funding from financial institutions. The agreements are often a prerequisite for obtaining project financing and advancing construction activities.
According to Nair, the investment requirement for renewable energy projects currently ranges between INR 4 crore and INR 5 crore per MW for both solar and wind energy developments. The capital expenditure includes land acquisition, equipment procurement, transmission infrastructure and project execution costs.
Beyond renewable power generation, Avaada Group has diversified operations across multiple clean energy and sustainability-focused businesses. The group’s portfolio includes solar photovoltaic manufacturing, green hydrogen production, green hydrogen derivatives, green data centres, pumped storage projects and energy storage solutions. These segments form part of the company’s broader strategy to participate across the clean energy value chain.
The announcement coincided with the conclusion of the Avaada Bharat Uday Yatra, a nationwide outreach initiative aimed at increasing awareness and public engagement in sustainability and clean energy adoption. The campaign concluded in the presence of Union Minister for Jal Shakti C R Patil.
Addressing the event, Patil stated that India’s progress towards sustainable development requires active participation from citizens and communities. He noted that the Avaada Bharat Uday Yatra had carried the message of sustainability to communities across the country and encouraged broader involvement in environmental initiatives and clean energy adoption.
Vineet Mittal, Chairman of Avaada Group, said the programme had evolved beyond an awareness campaign into a nationwide movement connecting citizens with India's clean energy ambitions and sustainability goals.
The planned capacity addition reflects continued investment momentum within India’s renewable energy sector, as developers accelerate project execution to support the country’s expanding clean energy targets and growing electricity demand. Avaada’s upcoming projects are expected to contribute significantly to the sector’s capacity growth over the next two years.
Source - PTI
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