Avaada Group announced an investment of Rs 50,000 crore in Madhya Pradesh for the next five years, with most of the projects expected to materialise within three to four years, as per the report.
The group, which has been active in the state's green energy sector since 2010, played a pivotal role in setting up Madhya Pradesh's first large-scale solar power plant, with a capacity of 151 megawatts. Over the years, Avaada has expanded its presence by developing various renewable energy projects, including solar, wind, and pumped storage battery systems.
Vineet Mittal, Chairman of Avaada Group, said that the company is considering an investment of Rs 50,000 crore in the state, with most expected to materialise within three to four years. Avaada's regional projects are supported by global investors such as Thailand's PTT Group and Brookfield, and the company has already secured capital for its ongoing ventures, many of which are part of national tenders run by the Solar Energy Corporation of India (SECI).
