Avaada Plans ₹40,000 Cr Investment for Two Green Fuel Facilities
Avaada Group, a major Indian clean energy conglomerate, has laid out a ₹40,000 crore investment plan for establishment of two green fuel facilities in Odisha and Maharashtra, allocating ₹20,000 crore to each facility.
Avaada to Sign Off-Take Agreement for Green Ammonia by 2027
In Gopalpur, Odisha, the company will invest ₹20,000 crore for development of a Green Ammonia Facility. The project is currently in the Front-End Engineering Design (FEED) phase. This plant will have an expected capacity of 1500 Tonne Per Day (TPD) and is slated to be commissioned around 2030.
For this project, Avaada has already secured European Union Renewable Fuels of Non-Biological Origin (RFNBO) certification* for 85% of its planned output. The company is currently pursuing long-term offtake agreements from European buyers. “For the first time, we are moving closer to binding agreements for offtake. We should sign by next year,” said Mr. Vineet Mittal, Founder and Chairman, Avaada Group.
*RFNBO certification verifies that Renewable Fuels of Non-Biological Origin, whose energy content is derived from non-biomass renewable sources (such as green Ammonia and green Hydrogen), comply with the European Union’s Renewable Energy Directive by achieving at least a 70% reduction in lifecycle greenhouse gas emissions.
Land Allocation for Maharashtra Methanol Plant Underway
Avaada plans to establish a Green Methanol plant in Nagpur, Maharashtra with an investment of Rs. 20,000 crore. This project is still in the conceptualisation stage, with final investment sizing yet to be finalised.
Speaking on the Nagpur Green Methanol project, Mr. Mittal said, “The land allocation and size of the project is not yet finalized, so the number is not clear, but we want to do it in the same range.” He added, that the company has sought land allocation from Government of Maharashtra and the process is currently underway. Additionally, RFNBO certification for the methanol plant is under process.
About Avaada Group: Avaada is a leading energy conglomerate headquartered in Mumbai. The company is one of India’s largest renewable power generators and has presence across solar PV manufacturing, Green Hydrogen and it’s derivatives such as Green Ammonia, and Green Methanol; Pumped Hydro Projects, Green Data Center & Battery Energy Storage System (BESS).
