avaada

Avaada Group has secured nearly US$950 million in debt financing across three utility-scale renewable energy projects. 

Indian infrastructure company focused on rooftop and ground-based solar power installations, PVV Infra has secured solar power orders worth INR7.9 billion (US$90 million) through two of its subsidiaries. 

Avaada Electro has commissioned a 1.5GW module manufacturing facility in Noida, in the northern Indian state of Uttar Pradesh.

Once complete, the project is intended to produce 5GW of tunnel oxide passivated contact (TOPCon) cells and 3GW of modules.

Indian renewables developer Avaada Energy has secured a 1050MW contract in a tender issued by the government’s Renewable Energy Implementing Agency (REIA) and National Thermal Power Corporation (NTPC).

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.