Avaada Energy was founded in 2017 by former Welspun Energy promoter Vineet Mittal who left Welspun Group after it sold its renewable business to Tata Power for Rs 10,000 crore in 2016. Canada-based pension fund Omers and Norway government’s private equity arm Norfund are in talks to invest $200 million in Avaada Energy for a […]
Avaada Energy Gets Solar Award-‘Project Developer of the Year 2020-2021- Gold’
Avaada Energy wins the ‘Project Developer of the Year 2020-2021- Gold’. EQ organized the India National Level Solar eAwards 2020-21 on May 26, 2021. The event was powered by EQ iSearch and conducted through virtual mode for the solar industry of India. SB Energy shared this award with Avaada Energy. Avaada is a leading developer […]
MERC Rules in Favor of Avaada Energy for Delay in Signing PPA
MERC Rules in Favor of Avaada Energy for Delay in Signing PPA Case of Avaada Energy Pvt. Ltd. seeking issuance of appropriate Order(s)/ directions(s) to MSEDCL inter alia executing the power purchase agreement pursuant to the adoption of tariff by the Commission vide its Order dated 15 May 2020 and letter of award dated 17 […]
Avaada Energy to be facilitated for evacuation of its additional capacity beyond 28 MW to either MSEDCL or any third party
Avaada Energy to be facilitated for evacuation of its additional capacity beyond 28 MW to either MSEDCL or any third party For more information please see below link:
ADB to Invest $15 Million in Avaada Energy to Expand Renewable Energy Capacity in India
NEW DELHI, INDIA: The Asian Development Bank (ADB) has signed an agreement to invest $15 million in INR equivalent in Avaada Energy Private Limited (AEPL) to help the company to scale up photovoltaic solar energy generation capacity in India. This is ADB’s second investment in AEPL after a first round of $50 million invested in […]
Avaada Energy appoints Bank of America to raise around $220 mn via stake sale
Three indicative term sheets received for buying stake, Avaada Energy has 1 GW operational capacity and a 3 GW pipeline. India aims to have 175 GW of clean energy capacity by 2022, including 100GW from solar projects NEW DELHI: It’s deal time in India’s green energy space. In what will rank among the largest renewable […]
Avaada Energy will invest in Maharashtra to setup 350 MW Solar Power Plant
~ Avaada Energy has received a letter of award from Maharashtra State Electricity Distribution Co Ltd. (MSEDCL) to develop a 350 MW solar project in Maharashtra. ~ Mumbai: Avaada Energy, India’s leading Renewable Energy Producer, has been accorded a Letter of Award (LoA) to develop a 350 MW solar project in Maharashtra from MSEDCL. The […]
Avaada Group’s Clean Energy Business Receives USD 15 Million Investments from Proparco
~ USD 15 Million investments received from Proparco ~ ~Company has currently 3.4 GW of renewable portfolio including under implementation projects and is targeting to expand to 5 GW over next two years ~ ~ Earlier this year, Company has so far raised over INR 1450 crores in equity funding from ADB, DEG,FMO and Promoters~ […]
PROPARCO Makes $15 M Equity Investment in Avaada Energy
PROPARCO, a French development financial institution, has announced that it has made a $15 million (~₹1.07 billion) equity investment in independent power producer Avaada Energy Private Limited. PROPARCO provides funding and support to both businesses and financial institutions across Africa, Asia, Latin America, and the Middle-East and seeks to partner with projects in key development […]
Avaada Energy implementing 2GW of open access solar plants
The company has over 500 MW of open access solar plants portfolio, one of the largest in India. Leading corporates, MNCs, IT and manufacturing giants are among its client base The company has over 1.8 GW of commissioned renewable assets in India till date Mumbai: Avaada Energy, one of the leading Independent Power Producers (IPP) […]