Avaada Group is targeting the addition of 5 gigawatt (GW) of renewable energy projects in the current financial year, according to Chairman Vineet Mittal. The company has secured power purchase agreements and connectivity for these projects, as reported by Business Standard. The previous fiscal year saw Avaada add 2GW, though plans for an additional 1-2GW were hampered by delays in signing agreements and infrastructure challenges. Chairman Vineet Mittal stated these impediments forced adjustments to their schedule, but the company is now positioned to achieve its ambitious expansion targets.
With the planned 5GW addition, Avaada's overall operational capacity will reach 12GW by March 2027. The new capacity will be a mix of solar, wind and Battery Energy Storage System (BESS) projects, which are already taken up for implementation and planned across Maharashtra, Gujarat and Rajasthan, according to Mittal's statements to Business Standard. The projects will include solar, wind, and battery energy storage, prominently featuring in regions like Maharashtra, Gujarat, and Rajasthan.
On the manufacturing front, Avaada is building a super factory at Butibori in Nagpur (Maharashtra), which will produce the entire value chain including ingot, wafer, cell and module under the same unit. As reported by Business Standard, the company is making an integrating manufacturing complex where manufacturing of ancillary products will also be taken up all under one roof. The glass factory is already under construction and expected to be commissioned in one year. The upcoming facility's capability to cut import dependency by over 90% places emphasis on sustainability and integrated production.
The company is hopeful of operationalizing 6GW of cell line during this year and is on track to produce wafer and ingot also at the same facility in the next year, according to Mittal's statements to Business Standard. Once fully operational, Avaada's import dependence would reduce to less than 10 per cent. The facility will be the first of its kind co-located facility, which is totally sustainable and environmentally friendly.
