avaada

The Avaada Group has closed its latest funding round, which generated US$1.3 billion for the group’s solar and green hydrogen businesses.

India-based renewables developer Avaada Group has raised US$1 billion from asset owner Brookfield Renewable to fund the growth of its renewable energy platform in India.

Indian IPP Avaada Energy is in the process of implementing 2GW of open access solar plants in states like Maharashtra, Tamil Nadu, Haryana, Karnataka and Orissa. Avaada currently has a portfolio of over 500MW of open access solar plants for various commercial and industrial companies.

The investment is to help Vineet Mittal's company rapidly scale up its PV capacity in India.

UPDATED: Winning bids in a 550MW solar auction in Uttar Pradesh, India, have come out between INR 3.02-3.08/kWh (US$0.0429-0.0437), a notable drop from 3.17-3.23 rupees in its most recent 500MW auction in October.

SECI postpones 100MW floating PV tender uploading, BHEL bags 75MW EPC contract in Gujarat, Karnataka awards 550MW of solar

Indian solar developer Avaada Power has further staked its claim in the Indian PV market by signing a memorandum of understanding (MoU) with the Andhra Pradesh government to develop 500MW of utility-scale PV projects with a INR35 billion (US$537 million) investment.

Indian renewable energy project developer Avaada Power has signed a Memorandum of Understanding (MoU) with the Government of Uttar Pradesh to invest US$1.55 billion for the development of 1.6GW of solar projects in the state.

India solar prices have continued their downward spiral, this time with record low bids of INR2.62/kWh (US$~0.04) from Phelan Energy Group and Avaada Power in the state of Rajasthan.