Avaada Group to Invest 5000 Cr. on 1 GW Renewable Energy Projects in Bihar

Avaada Group has signed a Memorandum of Understanding (MoU) with the Government of Bihar to develop 1 GW of Renewable Energy projects across the state. The company will invest Rs. 5,000 crore for developing these projects.

As per the MoU, Avaada Group will establish a mix of Renewable Energy projects, including ground-mounted and floating solar projects, community solar installations, and Battery Energy Storage Systems (BESS). The Bihar government will facilitate the company in securing necessary approvals and clearances for project execution.

These projects are expected to commence operations within two years of signing the Power Purchase Agreements (PPAs) and are anticipated to create employment opportunities for around 500 people.

Commenting on this development, Mr. Kishor Nair, Chief Executive Officer of Avaada Energy, said, “At Avaada, we are committed to accelerating India’s energy transition while contributing to regional growth and development. Our partnership with the Government of Bihar marks a significant step towards harnessing the state’s renewable energy potential…”.