Avaada Signs INR 5,000 Cr MoU with Bihar to Develop 1 GW Renewable Energy Projects

Avaada Group has signed a memorandum of understanding (MoU) with the Government of Bihar to develop 1 gigawatt (GW) of renewable energy capacity in the state, marking a major investment push worth INR 5,000 crore.

The agreement covers a diverse portfolio of clean energy initiatives including ground-mounted solar, floating solar, community solar, and battery energy storage systems. The projects are expected to generate 500 direct jobs and significantly boost Bihar’s renewable infrastructure.

The MoU was formalised between the Bihar Renewable Energy Development Agency (BREDA) and Avaada Energy CEO Kishor Nair, in the presence of Bihar’s Minister of Energy Bijendra Prasad Yadav and Minister of Industries Nitish Mishra. The signing coincided with the launch of the state’s new policy on renewable and pumped storage projects.

Forward Looking

“This is one of the most forward-looking renewable energy policies in the country,” said Vineet Mittal, Chairman of Avaada Group, adding that it would attract significant clean energy investments into Bihar.

Kishor Nair, CEO of Avaada Energy, said the collaboration underlines the group’s commitment to accelerating India’s energy transition. “Beyond clean energy generation, this investment will spur employment, attract allied industries, and support Bihar’s vision for sustainable development,” he said.

Project development is expected to commence following the execution of power purchase agreements (PPAs) with state agencies and the facilitation of land and water access. Avaada will also be eligible for incentives under the state’s renewable energy policy framework.

About Avaada Group

Avaada Group is a leading player in India’s green energy transition, with operations spanning solar PV manufacturing, renewable power generation, green hydrogen and its derivatives, battery storage, and pumped hydro storage. Backed by a $1.3 billion investment from Brookfield’s Energy Transition Fund and Thailand’s PTT Group subsidiary GPSC, Avaada aims to achieve 30 GWp of renewable capacity by 2030.