Avaada Group to launch a project of Rs 500 billion

08 Mar 2023 CW Team

An integrated power plant to produce 5,000 MW of renewable energy in Andhra Pradesh has been proposed by Avaada Group. 7,300 people are anticipated to be employed as a result.

The group has signed an MoU at the Investors Summit to put up the project at a potential cost of Rs 500 billion. In 2012, Avaada Group initially established its project at Pulivendula. In Coastal Andhra and Rayalaseema, as part of the integrated project, it will install solar, wind, and pumped storage hydropower units. One of India's largest renewable energy projects has been launched by Avaada Energy, the parent business of the Avaada Group, in 11 states.

An analysis of the viability of integrated renewable energy projects in the State revealed that locations around the port are the best places for their placement. They intend to establish the project in Srikakulam or Kakinada.

Additionally, the group plans to build wind and solar energy facilities in Chittoor or Anantapur. The pumped storage hydropower project will be connected to the electricity produced by the solar and wind power facilities.

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