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Avaada Power Commits INR 10,000 Crore Investment in Uttar Pradesh; Signs MoU to

Avaada Power Commits INR 10,000 Crore Investment in Uttar Pradesh; Signs MoU to


Develop Solar Projects in the State

~ Commitment to Hon. Prime Minister’s vision of achieving 100GW of solar energy by 2022~
~ Nearly 7.44 million households could be powered through this commitment~

Lucknow, February 21 2018: Avaada Power Pvt. Ltd, India’s leading clean energy company, has signed
an Memorandum of Understanding (MoU) with the Government of Uttar Pradesh to invest INR 10,000
crore in the state for developing 1,600 MW Solar Projects. The projects will be developed across
Mirzapur, Badun, Gorakhpur and Bundelkhand districts. With this investment, nearly 3,700 employment
opportunities will be created. Some of these investments are being made in under-developed and
developing regions, thereby offering employment opportunities to the communities located there. The
company’s commitment is in line with Uttar Pradesh’s annual target of 2,000 MW production capacity of
solar energy. The MoU was signed as part of ‘UP Investors Summit 2018’, in the presence of Honorable
Chief Minister of Uttar Pradesh Shri Yogi Adityanath.

Uttar Pradesh currently has an installed capacity of 569.35 MW solar energy and has the potential to
touch a high generation figure of 22.8 GW. Avaada Power plans to help in bridging this gap. With its solar
commitment, the organization will be able to mitigate nearly 25,79,820 tonnes of carbon emissions on an
annual basis. Clean energy generated through these projects will be enough to power nearly 7.44 million
households in Uttar Pradesh.

Vineet Mittal, Chairman, Avaada Group, said, “We are geared up to support Uttar Pradesh’s mission of
utilizing the potential of the sun to power its development needs sustainably. We are working aggressively
to help catapult the state on the clean energy trajectory. The state falls under high solar irradiation zone,
which offers tremendous opportunities for expanding its clean energy portfolio. We are glad that this MoU
will enable Uttar Pradesh to be the front runner in achieving Hon. Prime Minister’s vision of 100GW of
solar energy by 2022. The company is committed to provide affordable, clean and abundant power for the
country and will continue to focus on innovative green technologies”.

Avaada Power is embarking on a new journey towards bringing sustainable energy for the country with
plans of setting up mega projects to generate thousands of megawatts of power in a phased manner. The
company’s engineering team has demonstrated the ability to design, engineer and build renewable
projects with high performance outputs and low cost – delivery period.
There is need for urgent increase of renewable energy for the country to be able to combat climate
change while reducing air pollution and helping the country meet its energy goals. Northern states of India
have a significant potential for solar power generation.

About Avaada Power Pvt. Ltd. (avaadaenergy.com)
Avaada Power aims to craft a sustainable future by working for the benefit of the environment and all communities.
With a vision to create a world powered by sustainability, Avaada is a leading builder of renewable energy projects,
due to their Engineering, Procurement & Construction (EPC) capabilities; with a long practice of building complex
solar and wind projects across 10 different states in India. Meeting infrastructural and quality standards, the team wasthe first in India to build largest portfolio of solar power projects, aggregating to nearly 1 GW capacities and is buildinga multi GW portfolio not just in India but across the world. Avaada is now on the way to innovate and create newparadigms in Clean-tech. Through its strong commitment to triple bottom line, Avaada Power is working for
underserved communities in area of rural electrification, education, empowerment, healthcare and environment.
Disclaimer: The information in this release has been included in good faith and is for general purposes only. It
should not be relied upon for any specific purpose and no representation or warranty is given as regards to its
accuracy or completeness. No information in this press release shall constitute an invitation to invest in Avaada


Power Pvt. Ltd. or any of its affiliates. Neither Avaada Power Pvt. Ltd., nor their or their affiliates’ officers, employees
or agents shall be liable for any loss, damage or expense arising out of any action taken on the basis of this press
release, including, without limitation, any loss of profit, indirect, incidental or consequential loss.

Anand Gupta Editor - EQ Int'l Media Network


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