Avaada Group signs a Memorandum of Understanding (MoU) with the Government of Gujarat to build hybrid wind-solar projects. The new hybrid wind-solar projects in Gujarat have a cumulative 6000 MW (6 GW) capacity.
Avaada Group is to build the hybrid wind-solar projects with a substantial investment of about Rs 40,000 crore affirmed in its official release.
Avaada Group reasserts its green initiatives through this new hybrid wind-solar project in the state of Gujarat. It aims to develop a robust Renewable Energy ecosystem.
In line with its commitment, the milestone agreement of the Renewable Energy ecosystem was signed in the august presence of Hon’ble Chief Minister of Gujarat Shri Bhupendrabhai Patel, along with other dignitaries on the sidelines of the Vibrant Gujarat Summit 2024 at Gandhinagar.
The hybrid projects, located in various districts of Gujarat, predominantly in the underdeveloped wastelands of Kutch, will supply power to various utilities of India including GUVNL, and for captive use of AVAADA’s Green Hydrogen/Ammonia Projects.
These hybrid wind-solar projects by Avaada Group to substantially reduce the carbon emission and dependability of conventional power sources.
With an estimated annual generation of 17.5 billion units of green electricity, this will lead to a reduction of approximately 16.3 million tons of CO2 equivalent emissions annually, contributing significantly to India’s green energy supply and powering nearly 12.6 million households.
Moreover, it will generate ~1200 direct and indirect jobs, thereby contributing to local and regional economic development.
Speaking on the significant development, Vineet Mittal, Chairperson of Avaada Group, said, “Due to the pressing need to tackle climate change, governments, private sector as well as individuals globally are increasingly focusing on sustainable solutions to promote economic growth and well-being for everyone. Renewable energy along with green hydrogen and its derivatives have emerged as powerful substitutes for fossil fuels, driving rapid decarbonization across various industries and regions.
Gujarat has abundant natural resources including 300 sunshine days, availability of vast wasteland and long coastline to help green energy such as Hybrid Wind-Solar Projects flourish.
Avaada Group to drive sustainable energy solutions(Renewable Energy) takes another significant stride forward with the signing of this MoU.
Avaada Group already has projects of ~2 GW capacity that are operational or at various stages of implementation in the state of Gujarat.
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