Tag: Vineet Mittal

Business

Avaada Group to Develop 6 GW Hybrid Wind-Solar Projects in Gujarat with Rs 40,000 Cr Investment

Jan 18, 2024 by Sujata Muguda 0 Comments #6 GW Hybrid Wind-Solar Projects, #Avaada Group, #Vineet Mittal

Mumbai, 18th January 2024 – Avaada Group, India’s prominent integrated energy platform, has signed a Memorandum of Understanding (MoU) with the Government of Gujarat. This strategic alliance aims to set up hybrid wind-solar projects with an aggregate 6000 MW (6 GW) capacity in the state with an investment of about Rs 40,000 crore, marking a pivotal moment in the journey towards greener future.

Avaada Group’s commitment to green initiatives in the state of Gujarat is underscored by substantial investments in the development of a robust Renewable Energy ecosystem. In line with its commitment, the milestone agreement was signed in the august presence of Hon’ble Chief Minister of Gujarat Shri Bhupendrabhai Patel, along with other dignitaries on the sidelines of the Vibrant Gujarat Summit 2024 at Gandhinagar.

The hybrid projects, located in various districts of Gujarat, predominantly in the underdeveloped waste lands of Kutch, will supply power to various utilities of India including GUVNL, and for captive use of AVAADA’s Green Hydrogen/Ammonia Projects. These Projects will substantially reduce the carbon emission and dependability of conventional power sources and stand as a testament to our commitment to scalable and innovative solutions, aiming to revolutionize the energy landscape while addressing critical environmental and economic imperatives.

With an estimated annual generation of 17.5 billion units of green electricity, this will lead to a reduction of approximately 16.3 million tons of CO2 equivalent emissions annually, contributing significantly to India’s green energy supply and powering nearly 12.6 million households.

Moreover, it will generate ~1200 direct and indirect jobs, thereby contributing to local and regional economic development.

Speaking on the significant development, Mr. Vineet Mittal, Chairperson of Avaada Group, said, “Due to the pressing need to tackle climate change, governments, private sector as well as individuals globally are increasingly focusing on sustainable solutions to promote economic growth and well-being for everyone. Renewable energy along with green hydrogen and its derivatives have emerged as powerful substitutes for fossil fuels, driving rapid decarbonization across various industries and regions.

With its abundant natural resources including 300 sunshine days, availability of vast wasteland and long coastline, Gujarat has the potential to significantly contribute towards meeting the global demand for alternative solutions for fossil fuels.

At Avaada Group, our dedication to driving sustainable energy solutions takes another significant stride forward with the signing of this MoU. This strategic partnership signifies our unwavering commitment to foster a robust, clean energy ecosystem. Besides the signing of the new 6 GW capacity in the state, we already have projects of ~2 GW capacity that are operational or at various stages of implementation in the state of Gujarat.”

Business

National Geographic India’s documentary ‘Rays of Change: AVAADA Energy’ brings forth the efforts of preparing one of the world’s largest solar plants in India

Dec 4, 2021 by Agency 0 Comments #AVAADA, #Chair, #Vineet Mittal

 India: Solar power, today, has become a key to a clean & carbon-free energy future and highlighting the importance of solar energy and ground-breaking engineering to fulfill the needs of people for sustainable solutions, National Geographic in India is launching a new documentary ‘Rays of Change: AVAADAEnergy’. The film, which premieres on December 4, 2021, at 8 pm on National Geographic, will give the viewers a glimpse of the efforts to develop one of the world’s largest single-location Solar Plants.

The film brilliantly captures the monumental effort involved in making one of the largest solar plants in the world, showcasing different project elements and their synergy. It also touches upon the human aspect by underscoring the influence of the project on human lives in the short and long term. From the plant’s planning, land acquisition, engineering innovations, and tackling the construction challenges of this gigantic project, the film covers every aspect of project execution for viewers to understand and appreciate.

“At National Geographic, we endeavour to bring inspirational stories of our nation’s growth and development through insightful and ground-breaking storytelling. The AVAADA Bikaner documentary is yet another attempt to further the knowledge of our viewers and give them a deeper understanding of the marvels around us. It emphasizes the increasing importance of sustainable living as we take viewers on this powerful journey of challenges and a project that is committed to bringing value to the lives of many,” a spokesperson from National Geographic.

“We are all aware of the importance of building a sustainable future for the generations to come, and this is a story of our efforts contributing towards it by building one of the World’s largest solar plants. We wanted to tell our story, and the team at National Geographic beautifully weaved in the narrative with their authentic style of storytelling, which will make for a compelling watch for all viewers,” said Vineet Mittal, Chair, AVAADA.

National Geographic’s upcoming documentary,’Rays of Change: AVAADA Solar’, will premiere on December 4, 2021, at 8.00 pm on National Geographic in India.