Avaada Group Receives Financial Commitments worth For 9 Projects
ECONOMY & POLICY

Avaada Group Receives Financial Commitments worth For 9 Projects

Avaada Group said it has secured financial commitments worth Rs 85 billion from multiple lenders, including SBI and Yes Bank, for its nine projects. The financial closure for the 9 projects includes a mix of utility-scale independent power projects (IPPS), large-scale agri photovoltaic projects, merchant power generation projects, commercial and industrial projects and the group's green module manufacturing business. "Avaada Group has successfully completed financing or refinancing of 9 of its projects across the business divisions totalling for an amount of Rs 85 Billion, showcasing the company's commitment to advancing renewable energy solutions across India," the company said in a statement. These financing came through multiple transactions with a diverse set of lenders ranging from leading public sector banks like SBI and Union Bank, financial institutions like NABFID and PFC, and from sector Standard Chartered, Axis Bank, Yes Bank, Tata Capital, Aseem Infra and NIIF among others, it added. Securing the financing commitments from such a large group of lenders demonstrates the group's ability to structure and execute diverse renewable energy projects at scale, Vineet Mittal, Chairman of Avaada Group, said. Avaada Group specialises in solar module manufacturing, renewable power generation, and the development of green hydrogen, green methanol, green ammonia, and sustainable aviation fuel projects.

Avaada Group said it has secured financial commitments worth Rs 85 billion from multiple lenders, including SBI and Yes Bank, for its nine projects. The financial closure for the 9 projects includes a mix of utility-scale independent power projects (IPPS), large-scale agri photovoltaic projects, merchant power generation projects, commercial and industrial projects and the group's green module manufacturing business. Avaada Group has successfully completed financing or refinancing of 9 of its projects across the business divisions totalling for an amount of Rs 85 Billion, showcasing the company's commitment to advancing renewable energy solutions across India, the company said in a statement. These financing came through multiple transactions with a diverse set of lenders ranging from leading public sector banks like SBI and Union Bank, financial institutions like NABFID and PFC, and from sector Standard Chartered, Axis Bank, Yes Bank, Tata Capital, Aseem Infra and NIIF among others, it added. Securing the financing commitments from such a large group of lenders demonstrates the group's ability to structure and execute diverse renewable energy projects at scale, Vineet Mittal, Chairman of Avaada Group, said. Avaada Group specialises in solar module manufacturing, renewable power generation, and the development of green hydrogen, green methanol, green ammonia, and sustainable aviation fuel projects.

Next Story
Infrastructure Urban

CRCL, IIT Delhi Sign MoU to Boost Science and Ease of Business

The Central Revenues Control Laboratory (CRCL), Central Board of Indirect Taxes and Customs (CBIC), Department of Revenue, Ministry of Finance, and the Indian Institute of Technology (IIT) Delhi signed a Memorandum of Understanding (MoU) toward trade facilitation and improving the ease of doing business. This MoU collaboration aims to foster R&D, innovation, and scientific excellence at CRCL, bolstering trade facilitation and regulatory efficiency.The MoU was signed by Prof. Rangan Banerjee, Director, IIT Delhi, and Shri V. Suresh, Director, CRCL, in presence of Shri Surjit Bhujabal, Speci..

Next Story
Infrastructure Urban

CAQM Sub-Committee Activates 27-Point Plan to Improve NCR Air Quality

The daily average AQI of Delhi has been hovering marginally above 200 threshold with forecast of slight improvement since last two days. Today, Delhi’s daily average Air Quality Index (AQI) clocked 213 (‘Poor’ category), as per the daily AQI Bulletin provided by the Central Pollution Control Board (CPCB), owing to variable winds. In wake of the average/ overall air quality of Delhi recording ‘Poor’ air quality category ranging between 201-300, the CAQM Sub-Committee on GRAP met today to take stock of the current air quality scenario of Delhi-NCR. While comprehensively reviewing the a..

Next Story
Infrastructure Urban

DoT Launches Financial Fraud Risk Indicator to Boost Cybersecurity

In a major step towards combating cyber fraud and financial crime, the Department of Telecommunications (DoT) has announced sharing of “Financial Fraud Risk Indicator (FRI)” with stakeholders- an output from a multi- dimensional analytical tool developed as part of the Digital Intelligence Platform (DIP) to empower financial institutions with advance actionable intelligence for cyber fraud prevention. This will enhance cyber protection and validation checks in case of mobile numbers flagged with this tool when digital payment is proposed to be made to such numbers.What is the “Financial ..

Advertisement

Advertisement

Subscribe to Our Newsletter

Get daily newsletters around different themes from Construction world.

STAY CONNECTED

Advertisement

Advertisement

Advertisement

Advertisement

Talk to us?