Avaada Group Secures Rs 8,500 Crore for Renewable Ventures

Avaada Group announced financial commitments of Rs 8,500 crore from multiple lenders, including SBI and Yes Bank, to support nine renewable energy projects. The projects span utility-scale power, agri photovoltaic, and green manufacturing. This funding underscores Avaada's dedication to advancing renewable energy solutions in India.

Avaada Group has announced the successful acquisition of Rs 8,500 crore in financial commitments from a host of lenders, including SBI and Yes Bank, for its diverse portfolio of nine projects.

The projects receiving funding encompass a range of sectors, incorporating utility-scale independent power projects, large-scale agri photovoltaic operations, merchant power generation, and the group's burgeoning green module manufacturing business.

Vineet Mittal, Chairman of Avaada Group, emphasized that securing commitments from such an extensive array of financial institutions—spanning public sector banks and private lenders—demonstrates the group's expertise in structuring and executing renewable energy initiatives at a significant scale.

(With inputs from agencies.)