Gujarat Government Inks Deal With Avaada Group For 6 GW Hybrid Wind-Solar Projects
In a major step towards bolstering India's renewable energy landscape, Avaada Group, a leading integrated energy platform, has formally entered into a Memorandum of Understanding (MoU) with the Government of Gujarat.
This strategic alliance aims to pave the way for the establishment of hybrid wind-solar projects with an aggregate capacity of 6000 MW (6 GW) in the state, involving an investment of approximately Rs 40,000 crore.
The agreement was inked in the august presence of Gujarat's Chief Minister, Bhupendra Patel, and other dignitaries during the Vibrant Gujarat Summit 2024 held at Gandhinagar recently.
This collaboration reflects Avaada Group's unwavering commitment to green initiatives in Gujarat and signifies a major milestone in the collective journey towards a sustainable and eco-friendly future.
The hybrid projects, strategically located in various districts of Gujarat, primarily in the underdeveloped wastelands of Kutch, will cater to the power needs of various utilities, including the Gujarat Urja Vikas Nigam (GUVNL).
Additionally, the generated power will be utilised for captive purposes in AVAADA’s Green Hydrogen/Ammonia Projects. These projects are anticipated to significantly reduce carbon emissions, diminishing reliance on conventional power sources and exemplifying the commitment to scalable and innovative solutions.
With an expected annual generation of 17.5 billion units of green electricity, this ambitious venture is poised to curtail approximately 16.3 million tons of CO2 equivalent emissions annually. This impactful contribution aligns with India's goals for green energy supply, potentially powering nearly 12.6 million households and playing a vital role in environmental conservation.
Furthermore, the project is anticipated to generate around 1200 direct and indirect jobs, contributing to local and regional economic development. This holistic approach underscores Avaada Group's commitment not only to environmental sustainability but also to fostering socio-economic growth in the region.
Vineet Mittal, Chairperson of Avaada Group, expressed his enthusiasm regarding this monumental collaboration, stating, “Renewable energy, along with green hydrogen and its derivatives, has emerged as a powerful substitute for fossil fuels, driving rapid decarbonization globally. Gujarat, with its abundant natural resources, has the potential to significantly contribute towards meeting the global demand for alternative solutions to fossil fuels."
He further added, "Our dedication to driving sustainable energy solutions takes another significant stride forward with the signing of this MoU. This strategic partnership signifies our unwavering commitment to fostering a robust, clean energy ecosystem. Besides the signing of the new 6 GW capacity in the state, we already have projects of ~2 GW capacity that are operational or at various stages of implementation in the state of Gujarat.”
Avaada Group's foray into these groundbreaking projects marks a substantial leap towards a cleaner, greener future, reflecting the company's dedication to sustainable energy solutions and its pivotal role in India's renewable energy journey.
