Avaada Group to Raise $1 Billion for Green Projects

26 Dec 2024 CW Team

Avaada Group plans to raise $1 billion (over Rs 8,400 crore) in debt by March next year to fund its wind, solar, and other renewable energy projects, as confirmed by chairman Vineet Mittal. The group has already raised equity to support its initiatives.

With an operational capacity of over 4 gigawatts (GW), Avaada aims to achieve 11 GW by 2026 and 30 GW by 2030. “We could reach 30 GW sooner if transmission infrastructure improves,” Mittal said.

Avaada’s portfolio includes 5 gigawatt-hours (GWh) of battery storage and 10 GWh of long-duration pumped hydel storage. Last year, it raised $1.3 billion from Canadian investor Brookfield and Global Power Synergy to fund its green hydrogen and green ammonia ventures in India.

The group is establishing a 5 GW solar manufacturing plant in Nagpur, which will convert silicon into ingots, wafers, and solar panels. It is investing Rs 13,560 crore in the project, which is expected to begin operations next year.

Avaada is also working on developing pumped storage projects (PSPs) in Rajasthan and Odisha and has secured $1.8 billion for green ammonia and green hydrogen projects in Odisha’s Gopalpur Industrial Park.

Infrastructure Urban

31 Jul 2026

SCLR Extension Nears Completion Linking BKC With Signal-Free Route

The Santacruz-Chembur Link Road (SCLR) extension towards Bandra-Kurla Complex (BKC) via the Mumbai University campus has entered its final stage, bringing motorists closer to a direct, signal-free connection between the Western Express Highway and the city’s commercial district. The elevated connector is being built as an arm from the SCLR alignment and will link the western suburbs with BKC without surface signals. The link is designed to reduce journey times for commuters travelling from the western suburbs to BKC and to improve access to eastern Mumbai. By carrying through traffic above s..

Raiganj MP Seeks Bengal Only Highway Link To Siliguri

Raiganj Member of Parliament Kartik Chandra Paul met Union Minister for Road Transport and Highways Nitin Gadkari in New Delhi to press for a new stretch of national highway in North Dinajpur district. He urged approval for a Bengal-to-Bengal link that would connect National Highways 12 and 27 to allow vehicles bound for Siliguri to avoid the current route through Kishanganj in neighbouring Bihar. He also submitted a proposed alignment of the new road to the ministry for consideration. At present vehicles from Raiganj travel along NH-12 and join NH-27 at Purnia More in Dalkhola, a route that p..

Airport Kilambakkam Metro Line To Be Extended To Chengalpattu

Chennai Metro Rail (CMRL) has invited tenders for two detailed project reports that would extend its rail network to Chengalpattu in the south and extend Corridor-5 to Wimco Nagar in the north as part of a second wave of expansion beyond the operator's corridors under construction. The move signals an acceleration of planning for suburban links and interchange nodes. The larger of the two studies covers a roughly 27km extension from the planned Kilambakkam metro station to Chengalpattu under Corridor-1, Phase I. CMRL floated the tender at an estimated cost of Rs 21.6 mn. The proposed line woul..