Avaada Energy secures project financing
POWER & RENEWABLE ENERGY

Avaada Energy secures project financing

Avaada Energy has successfully obtained Rs 315 crore in financing for its captive solar power project in Karnataka. This substantial funding, provided by L&T Finance, underscores the growing investment in renewable energy within India. The project aims to enhance energy self-sufficiency for industrial consumers through a captive model, where the generated power is primarily used by the investors themselves.

The funding will support the development of a 210 MW solar plant, which is expected to play a significant role in reducing carbon emissions and promoting sustainable energy practices in the region. The project is aligned with India?s commitment to increasing its renewable energy capacity and reducing reliance on fossil fuels.

Avaada Energy, a leader in the renewable energy sector, continues to expand its portfolio with projects that emphasize sustainability and innovation. This financing deal is a testament to Avaada's robust project execution capabilities and its commitment to contributing to India?s renewable energy targets.

Vineet Mittal, Chairman of Avaada Group, expressed his gratitude for the support from L&T Finance, highlighting that this partnership will enable Avaada to optimize its capital structure and streamline the ownership of its renewable assets. This project is part of Avaada's broader strategy to achieve 11 GW of installed renewable energy capacity by 2026, contributing significantly to the nation?s green energy goals.

In addition to its efforts in solar energy, Avaada is also involved in solar PV manufacturing and the development of green fuels, including green ammonia and green methanol. This comprehensive approach positions Avaada as a key player in India's transition towards a sustainable energy future.

This financing milestone not only strengthens Avaada's position in the renewable energy market but also demonstrates the increasing investor confidence in sustainable energy projects. As India continues to advance its renewable energy agenda, projects like Avaada?s solar initiative in Karnataka will be crucial in meeting the country?s ambitious energy and environmental targets.

The 14th RAHSTA Expo, part of the India Construction Festival, will be held on October 9 and 10, 2024, at the Jio Convention Centre in Mumbai. For more details, visit: https://rahstaexpo.com

Avaada Energy has successfully obtained Rs 315 crore in financing for its captive solar power project in Karnataka. This substantial funding, provided by L&T Finance, underscores the growing investment in renewable energy within India. The project aims to enhance energy self-sufficiency for industrial consumers through a captive model, where the generated power is primarily used by the investors themselves. The funding will support the development of a 210 MW solar plant, which is expected to play a significant role in reducing carbon emissions and promoting sustainable energy practices in the region. The project is aligned with India?s commitment to increasing its renewable energy capacity and reducing reliance on fossil fuels. Avaada Energy, a leader in the renewable energy sector, continues to expand its portfolio with projects that emphasize sustainability and innovation. This financing deal is a testament to Avaada's robust project execution capabilities and its commitment to contributing to India?s renewable energy targets. Vineet Mittal, Chairman of Avaada Group, expressed his gratitude for the support from L&T Finance, highlighting that this partnership will enable Avaada to optimize its capital structure and streamline the ownership of its renewable assets. This project is part of Avaada's broader strategy to achieve 11 GW of installed renewable energy capacity by 2026, contributing significantly to the nation?s green energy goals. In addition to its efforts in solar energy, Avaada is also involved in solar PV manufacturing and the development of green fuels, including green ammonia and green methanol. This comprehensive approach positions Avaada as a key player in India's transition towards a sustainable energy future. This financing milestone not only strengthens Avaada's position in the renewable energy market but also demonstrates the increasing investor confidence in sustainable energy projects. As India continues to advance its renewable energy agenda, projects like Avaada?s solar initiative in Karnataka will be crucial in meeting the country?s ambitious energy and environmental targets.

Next Story
Infrastructure Urban

Govt approves NPCIL-NTPC JV company ASHVINI to start nuclear power generation

The Government on September 11, 2024 accorded approval to the Anushakti Vidhyut Nigam Ltd. (ASHVINI), a Joint Venture (JV) of Nuclear Power Corporation of India Limited – NPCIL (51%) and NTPC Ltd. (49%) to build, own & operate nuclear power plants in India in accordance with provisions of the Atomic Energy Act. Additionally Govt. of India has approved transfer of Mahi Banswara Rajasthan Atomic Power Project (MBRAPP) 4x700 MWe based on indigenous PHWR technology, from NPCIL to the JV Company ASHVINI. The Govt has also approved exemption to NPCIL to invest more than Rs 5 billion and exemptio..

Next Story
Infrastructure Urban

CRC Group partners with Dubai’s Killa Design for luxury Noida project

Noida-based real estate developer CRC Group has teamed up with renowned Dubai architect Shaun Killa to design an ultra-luxury residential project in Greater Noida. Shaun Killa, known for iconic structures such as Dubai's Museum of the Future and the Bahrain World Trade Centre, brings his expertise in sustainability and innovation to the collaboration. Killa expressed excitement about the partnership, stating, "Our goal is to create a design that stands the test of time, respects the environment, and complements the culture of the region." The project, set to feature between 375 to 400 luxury u..

Next Story
Infrastructure Urban

Nexus Venture sells stake in India Shelter Finance for Rs 4.82 billion

Venture capital firm Nexus Venture Partners divested a 5.97% stake in India Shelter Finance Corporation for Rs 4.82 billion through open market transactions. India Shelter Finance, based in Gurugram, caters to first-time home loan buyers in Tier-II and Tier-III cities, focusing on the low- and middle-income segments. Nexus, via its affiliates Nexus Ventures III and Nexus Opportunity Fund II Ltd, sold 6.4 million shares in two bulk deals on the BSE, priced between Rs 752.35 and Rs 753.27 per share, resulting in a total deal value of Rs 4.81 billion. This transaction reduced Nexus' stake in the ..

Hi There!

"Now get regular updates from CW Magazine on WhatsApp!

Join the CW WhatsApp channel for the latest news, industry events, expert insights, and project updates from the construction and infrastructure industry.

Click the link below to join"

+91 81086 03000