Avaada Power to Invest Rs 10k cr to Set Up 1,600 MW Solar Projs in UP

The company’s projects will help the state in meeting its annual target of 2,000 MW production capacity of solar energy.

Avaada Power, a clean energy company, has entered into a Memorandum of Understanding (MOU) with the Uttar Pradesh (UP) government during the Investors Summit 2018 to invest Rs 10,000 crore in setting up 1,600 MW solar projects.

The move will churn out nearly 3,700 jobs, the company said, “The projects will be developed across Mirzapur, Badaun, Gorakhpur and Bundelkhand districts.”

The company’s projects will help the state in meeting its annual target of 2,000 MW production capacity of solar energy.

The state has an installed capacity of 569.35 MW solar energy and has the potential to touch a high generation figure of 22.8 GW.

“With its solar commitment, the organisation will be able to mitigate nearly 25,79,820 tonne of carbon emissions on an annual basis. Clean energy generated through these projects will be enough to power nearly 7.44 million households in UP,” the company said in a statement.

Commenting on the agreement, Avaada Group, Chairman, Vineet Mittal said, “We are geared up to support UP’s mission of utilising the potential of the sun to power its development needs sustainably. We are working aggressively to help catapult the state on the clean energy trajectory.”

“This MoU will enable UP to be the front runner in achieving Prime Minister’s vision of 100 GW of solar energy by 2022,” Mittal added.

He further said, “The company is committed to providing affordable, clean and abundant power for the country and will continue to focus on innovative green technologies.”

Source: PTI