Avaada Group's Ambitious Green Molecule and Hydrogen Expansion Plans
Key Ideas
- Avaada Group aims to invest over ₹2.5 lakh crore by 2030 in various renewable energy projects, including solar, wind, and energy storage systems, with a focus on green molecule and hydrogen sectors.
- The company plans substantial investments in solar and wind projects, with a goal to produce over 10 gigawatts of module manufacturing capacity in the next two years.
- Avaada is actively bidding for solar, wind, and energy storage projects to scale up its operational capacity to 30 GW by 2030, supported by favorable government policies and innovations in the renewable energy industry.
- Despite facing challenges like delays in land acquisition and grid access, Avaada is preparing to establish green hydrogen production facilities and aims to export hydrogen and its derivatives to Western markets.
Avaada Group, an integrated green energy solutions provider, is venturing into the green molecule and hydrogen sector with a target of being a leading green molecule company. The Chairman, Vineet Mittal, stated plans to invest over ₹2.5 lakh crore by 2030 in various renewable energy projects, emphasizing solar, wind, and energy storage systems. The company is currently working on a large-scale green ammonia project in Odisha and has upcoming projects in Maharashtra and Odisha. Mittal highlighted the company's focus on developing and operating projects in green energy sectors like green hydrogen and green ammonia. Avaada aims to significantly invest in solar and wind projects, with plans to enhance module and cell manufacturing capacity. They are actively bidding for renewable energy and storage projects to increase operational capacity to 30 GW by 2030. Despite challenges in land acquisition and grid access, the company is preparing for green hydrogen facilities with intentions to export hydrogen and derivatives. Avaada's positive financial position allows them to fund projects without the immediate need to raise capital, positioning them as a profitable venture with positive cash flows.
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India
Renewable Energy
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