Latest news with #AvaadaGroup
Time of India
2 days ago
- Business
- Time of India
Avaada Electro eyes 12 GW module & cell manufacturing capacity by FY27 at Butibori facility, ET Manufacturing
Advt Avaada Group's manufacturing arm Avaada Electro is looking to scale up module and cell manufacturing capacity to 12 Gigawatt each at its Butibori facility in Nagpur The capacity will be increased up to 7 gigawatt by next month, the company said in a statement."Avaada Electro is scaling towards a 12 GW solar module and 12 GW solar cell manufacturing capacity by the next financial year," it company also announced that its Butibori facility has been officially included in the Approved List of Models and Manufacturers ( ALMM ) by the Ministry of New and Renewable Energy (MNRE). Vineet Mittal , Chairman & Founder , Avaada Group, said, "With ALMM certification of our Butibori plant and the commercial launch of our 720 Wp and 630 Wp N-type TOPCon modules, we are proud to lead India 's solar manufacturing revolution."The company's Dadri facility is already was introduced by the government to boost domestic manufacturing of solar panels.
The Print
30-04-2025
- Business
- The Print
Avaada Group, Maharashtra govt ink pact to set up 3,600 MW pumped storage projects at Rs 15,100 cr
These pumped storage initiatives will play a critical role in strengthening Maharashtra's energy security by enabling round-the-clock renewable power, supporting grid balancing, and ensuring seamless integration of clean energy into the state's power mix, the company said. The two major pumped storage hydro projects — 2,400 MW Pawana Falyan and 1,200 MW Sirsala — will see a cumulative investment of Rs 15,100 crore. The projects are expected to generate over 3,800 direct employment opportunities, the company said in a statement. New Delhi/Mumbai, Apr 29 (PTI) Avaada Group on Tuesday said it has signed an initial pact with the Maharashtra government for development of two pumped storage projects in the state, having a combined capacity of 3,600 MW. Maharashtra Chief Minister Devendra Fadnavis emphasised the state's commitment to becoming the clean energy capital of India. Fadnavis said, 'Maharashtra aims to become the Green Energy Hub of India. All signed MoUs (memoranda of understanding) must translate into swift execution on the ground, and the government will ensure complete support to developers to fast-track these transformational projects.' Vineet Mittal, Chairman of Avaada Group, said, 'This agreement is a decisive step towards securing India's clean energy future. Pumped storage solutions are pivotal for maintaining grid reliability and ensuring renewable energy availability round-the-clock.' In a post on X, CM Fadnavis said the MoU was signed between the Water Resources Department, MAHAGENCO (Maharashtra State Power Generation Company), MAHAREL (Mahagenco Renewable Ltd, a subsidiary of MAHAGENCO) and the Avaada Group for pumped storage projects. These MoUs will enable the generation of 8,905 MW of electricity, attract investments worth Rs 57,260 crore, and create approximately 9,200 employment opportunities. MAHAGENCO will develop pumped storage projects at Ghatghar (125 MW), Kodali (220 MW), Varasgaon (1,200 MW) and Panshet (1,600 MW). MAHAGENCO Renewable Energy Limited will set up additional projects at Muthkhed (110 MW), Nive (1,200 MW) and Varandha Ghat (800 MW). Additionally, Avaada Aqua Batteries will establish projects at Pawana-Falyan (2,400 MW) and Sirsala (1,250 MW), Fadnavis said. 'The pumped storage hydropower projects are an advanced technology in the field of renewable energy. These projects will help meet the electricity needs of agriculture, industry and commercial sectors, while also promoting environmental conservation. The government aims to generate 50 per cent of the state's total energy capacity from renewable sources,' the CM said. PTI ABI SHW PR NP This report is auto-generated from PTI news service. ThePrint holds no responsibility for its content.
Indian Express
29-04-2025
- Business
- Indian Express
Maharashtra aims to generate 8,905 MW of power from pumped-storage hydroelectric projects
The Maharashtra government has turned to pump-storage hydroelectric projects, with the water resources department signing agreements on Tuesday with Mahagenco, Mahagenco Renewable Energy Ltd and Aavada Aqua Batteries to generate 8,905 MW of power. The memorandums of understanding (MoUs) for setting up pumped-storage hydroelectric projects at nine sites were signed in the presence of Chief Minister Devendra Fadnavis. Mahagenco, or Maharashtra State Power Generation Corporation Limited, will set up pumped-storage hydroelectric projects at Ghatghar (125 MW), Kodali (220 MW), Varasgaon (1200 MW), and Panshet (1600 MW), while Mahagenco Renewable Energy Ltd will set up the projects at Mudkhed (110 MW), Nive (1200 MW), and Varandaghat (800 MW). Avaada Group will set up two big pumped-storage hydroelectric projects. 'The two major pumped-storage hydro projects 2400 MW Pawana Falyan and 1200 MW Sirsala, with a combined capacity of 3,650 MW, will see a cumulative investment of Rs 15,100 crore and generate over 3,800 direct employment opportunities,' read an official statement issued after the agreements were signed. Pumped-storage projects are expected to enable round-the-clock renewable power, supporting grid balancing, and ensuring the seamless integration of clean energy into the state's power mix. Fadnavis said in the statement, 'Maharashtra has taken the leadership role in promoting renewable energy. It is committed to clean green energy. It is our resolve to make the state the green energy hub of India.' 'All these MoUs signed must translate into execution on the ground and the government will ensure complete support for developers to fast-track these transformational projects,' he added. Vineet Mittal, Chairman, Avaada Group, called the agreement a decisive step towards securing India's clean energy future. 'Pumped-storage solutions are pivotal for maintaining grid reliability and ensuring renewable energy availability round-the-clock. We are honoured to partner with the government of Maharashtra in this journey towards a sustainable and prosperous future,' he said.
Time of India
29-04-2025
- Business
- Time of India
Avaada Group signs MoU with Maharashtra govt to set up 3,650 MW pumped storage projects
Mumbai: Avaada Group on Tuesday said it has signed a Memorandum of Understanding (MoU) with the Water Resources Department, Government of Maharashtra, to develop two pumped storage hydro projects with a combined capacity of 3,650 MW. According to the official press release, the two projects – 2,400 MW Pawana Falyan and 1,200 MW Sirsala – will see an investment of ₹15,100 crore and are expected to generate over 3,800 direct employment opportunities. 'Maharashtra aims to become the Green Energy Hub of India. All signed MoUs must translate into swift execution on the ground, and the Government will ensure complete support to developers to fast-track these transformational projects,' said Chief Minister of Maharashtra Devendra Fadnavis. The release added that these pumped storage initiatives will play a critical role in strengthening the state's energy security by enabling round-the-clock renewable power , supporting grid balancing, and ensuring the seamless integration of clean energy into the state's power mix. Vineet Mittal, Chairman, Avaada Group said that this agreement is a decisive step towards securing India's clean energy future and added that pumped storage solutions are pivotal for maintaining grid reliability and ensuring renewable energy availability round-the-clock.
Time of India
29-04-2025
- Business
- Time of India
Avaada Group, Maharashtra govt ink pact to set up 3,600 MW pumped storage projects at Rs 15,100 cr
Avaada Group on Tuesday said it has signed an initial pact with the Maharashtra government for development of two pumped storage projects in the state, having a combined capacity of 3,600 MW. The two major pumped storage hydro projects -- 2,400 MW Pawana Falyan and 1,200 MW Sirsala -- will see a cumulative investment of Rs 15,100 crore. The projects are expected to generate over 3,800 direct employment opportunities, the company said in a statement. #Pahalgam Terrorist Attack The groundwork before India mounts a strike at Pakistan India considers closing airspace to Pakistani carriers amid rising tensions Cold Start: India's answer to Pakistan's nuclear threats These pumped storage initiatives will play a critical role in strengthening Maharashtra's energy security by enabling round-the-clock renewable power, supporting grid balancing , and ensuring the seamless integration of clean energy into the state's power mix, the company said. Maharashtra Chief Minister Devendra Fadnavis emphasised the state's commitment to becoming the clean energy capital of India. Fadnavis said, "Maharashtra aims to become the Green Energy Hub of India . All signed MoUs (memoranda of understanding) must translate into swift execution on the ground, and the government will ensure complete support to developers to fast-track these transformational projects." Vineet Mittal, Chairman of Avaada Group, said, "This agreement is a decisive step towards securing India's clean energy future. Pumped storage solutions are pivotal for maintaining grid reliability and ensuring renewable energy availability round-the-clock."
