Avaada Power Inks MoU to Set Up 500MW Solar Farms in Andhra

The move will generate more than 1,200 employment opportunities in the state.

Renewables developer Avaada Power has inked an Memorandum of Understanding (MoU) with the Andhra Pradesh government to develop 500MW of utility-scale PV projects, with an investment of Rs 35 billion (USD537 million).

The Indian solar developer said that the projects in the state would be able to power the equivalent of 2.4 million households. The move will generate more than 1,200 employment opportunities in the state.

Meanwhile, the state government has set a target to achieve 18GW renewable energy capacities by the year 2021-22.

Recently, the company has also signed an MoU with the Uttar Pradesh government for another 1.6GW of projects, requiring USD1.55 billion investment.

Commenting on the company’s plans, Avaada Group, Chairman, Vineet Mittal said, “We are making significant investments in innovative clean energy solutions with a focus on solar and wind energy sectors. The company has set a target of achieving 5GW capacity in the next four years. With this, we aspire to play a pivotal role in meeting the increasing energy needs reiterating our commitment towards delivering clean and sustainable energy to all.”

Source: PVTECH