Avaada Group

In December 2025, Avaada Group signed an MoU with GRIDCO and IIT Bhubaneswar to establish a Centre of Excellence for green hydrogen in Odisha. The initiative will focus on integrated research, innovation, and technology development across the hydrogen value chain, including energy storage, industrial applications, and mobility. Under the partnership, Avaada will develop dedicated research infrastructure, while GRIDCO will act as the implementing agency and IIT Bhubaneswar will serve as the academic partner. The project aligns with India’s National Green Hydrogen Mission and aims to strengthen the country’s clean energy innovation ecosystem.

On October 10, 2025, Avaada Group signed a memorandum of understanding with the Government of Gujarat to invest Rs. 36,000 crore (US$ 4.3 billion) in developing 5 GW of solar, 1 GW of wind and 5 GWh of battery energy storage system projects across Kutch, Banaskantha and Surendranagar districts to boost grid reliability and renewable power supply.

Avaada Group has signed an MoU with the Bihar government to develop 1 GW of renewable energy projects, including ground-mounted, floating, and community solar plants, as well as battery storage. The company will invest Rs. 5,000 crore (US$ 570.58 million), with the state supporting approvals and clearances.

Received financial commitments worth Rs. 8,500 crore (US$ 992.9 million) for nine projects. Launched impactful climate initiatives ahead of World Environment Day.

Showcased leadership in green hydrogen at international forums. Partnered with Casale to develop India's largest green ammonia plant in Odisha, incorporating Swiss technology.

Raised Rs. 10,700 crore (US$ 1.3 billion) in funding, marking a milestone for Asia's green energy industry. Investors included Brookfield Renewables through its Brookfield Global Transition Fund (BGTF) and GPSC.

Installed a combined renewable energy capacity of 4 GW. Entered into the solar module manufacturing business. Signed MoUs with various state governments for green hydrogen and green ammonia production.

Raised Rs. 3,887 crore (US$ 454 million) from GPSC – PTT Thailand. Commissioned the world’s largest single-location solar plant by any IPP – 1,248 MW (DC) in Bikaner, Rajasthan.

Awarded a pipeline of approximately 2.2 GW of renewable energy projects. Raised Rs. 1,284 crore (US$ 150 million) from investors and the promoter’s family office.

Provided a successful exit to existing investors – ADB, DEG, FMO, and Proparco.

Added another 300 MW capacity in the first year as Avaada Energy.

Sold an operational portfolio of approximately 1.2 GW to Tata Power. The company underwent a demerger and was rechristened as Avaada Energy, adding 300 MW capacity in its first year.

Entered the wind energy sector with a 126 MW wind project in Rajasthan.

Commissioned Asia’s largest and the world’s second-largest solar project of 151 MW in Madhya Pradesh. Collaborated with global financial institutions like ADB, DEG, and GE as equity investors.

Commissioned India's largest single-location solar project at the time (55 MW) in Rajasthan and another 30 MW project in Gujarat.

Commissioned a 15 MW solar project in Gujarat, followed by 5 MW capacities across Rajasthan, Andhra Pradesh, and Gujarat.

Inception of the business energy