Avaada Group and Odisha Govt. Partner for Rs 20,700 Cr Green Energy Deal

The renewable energy sector gains strength through a landmark investment by Avaada Group totaling Rs 20,700 crore to build advanced renewable energy projects in Odisha. The company aims to establish 1,500 MW floating solar projects alongside two 1,000 MW Pumped Storage Projects (PSP) and green energy equipment manufacturing facilities in the state through this planned investment.

The memorandum of understanding (MoU) reached its final form on a Tuesday during the Make in Odisha Conclave 2025 while Odisha's Chief Minister Mohan Charan Majhi watched. Prime Minister Narendra Modi launched the event to highlight Odisha's goal of becoming India's foremost green energy center. Through its sustainable growth mandate, Avaada Group assists Odisha in its goal of becoming a worldwide leader in renewable energy.

Vineet Mittal, Chairman of Avaada Group, expressed confidence in the investment's potential to transform the renewable energy landscape, saying, "Our Rs 20,700 crore investment in renewable energy projects, including floating solar and pumped storage demonstrates our commitment to sustainability and innovation."

As a leading global entity, Axavada Group focuses on clean energy transformation through solar module production, renewable power generation, emissions-free hydrogen ammonia, and sustainable fuel creation. Forest Metro Head Param Prabhat showcased the group's innovative renewable energy solutions, which included solar power, wind power, and green hydrogen, at the conclave to establish the organization as a leader for India's energy future.