Avaada Energy is owned by Vineet Mittal, the former promoter of Welspun Energy. He left the Welspun Group after selling the entire 1.1 GW renewable energy portfolio of Welspun Energy To Tata Power for $1.4 billion. Entrepreneur Vineet Mittal-controlled renewable energy firm Avaada Energy has emerged as the front-runner to acquire around 340 MWs of […]
Thailand’s Global Power System Acquires 41% Stake in Avaada Energy
The acquisition has been made through Global Renewable Synergy Company Ltd, a wholly-owned subsidiary of Global Power Synergy Public Company Limited. Thailand based Global Power Synergy Public Company Limited (GPSP) has bought 41.6 per cent shareholding in Avaada Energy Private Limited at an enterprise value of THB 14,825 million. The acquisition has been made through […]
Omers, Norfund in Talks to Pick Up 20% Stake in Avaada Energy For $200 million
Avaada Energy was founded in 2017 by former Welspun Energy promoter Vineet Mittal who left Welspun Group after it sold its renewable business to Tata Power for Rs 10,000 crore in 2016. Canada-based pension fund Omers and Norway government’s private equity arm Norfund are in talks to invest $200 million in Avaada Energy for a […]
Avaada Energy Gets Solar Award-‘Project Developer of the Year 2020-2021- Gold’
Avaada Energy wins the ‘Project Developer of the Year 2020-2021- Gold’. EQ organized the India National Level Solar eAwards 2020-21 on May 26, 2021. The event was powered by EQ iSearch and conducted through virtual mode for the solar industry of India. SB Energy shared this award with Avaada Energy. Avaada is a leading developer […]
MERC Rules in Favor of Avaada Energy for Delay in Signing PPA
MERC Rules in Favor of Avaada Energy for Delay in Signing PPA Case of Avaada Energy Pvt. Ltd. seeking issuance of appropriate Order(s)/ directions(s) to MSEDCL inter alia executing the power purchase agreement pursuant to the adoption of tariff by the Commission vide its Order dated 15 May 2020 and letter of award dated 17 […]
Avaada Energy to be facilitated for evacuation of its additional capacity beyond 28 MW to either MSEDCL or any third party
Avaada Energy to be facilitated for evacuation of its additional capacity beyond 28 MW to either MSEDCL or any third party For more information please see below link:
ADB to Invest $15 Million in Avaada Energy to Expand Renewable Energy Capacity in India
NEW DELHI, INDIA: The Asian Development Bank (ADB) has signed an agreement to invest $15 million in INR equivalent in Avaada Energy Private Limited (AEPL) to help the company to scale up photovoltaic solar energy generation capacity in India. This is ADB’s second investment in AEPL after a first round of $50 million invested in […]
Avaada Energy appoints Bank of America to raise around $220 mn via stake sale
Three indicative term sheets received for buying stake, Avaada Energy has 1 GW operational capacity and a 3 GW pipeline. India aims to have 175 GW of clean energy capacity by 2022, including 100GW from solar projects NEW DELHI: It’s deal time in India’s green energy space. In what will rank among the largest renewable […]
Avaada Energy will invest in Maharashtra to setup 350 MW Solar Power Plant
~ Avaada Energy has received a letter of award from Maharashtra State Electricity Distribution Co Ltd. (MSEDCL) to develop a 350 MW solar project in Maharashtra. ~ Mumbai: Avaada Energy, India’s leading Renewable Energy Producer, has been accorded a Letter of Award (LoA) to develop a 350 MW solar project in Maharashtra from MSEDCL. The […]
Avaada Group’s Clean Energy Business Receives USD 15 Million Investments from Proparco
~ USD 15 Million investments received from Proparco ~ ~Company has currently 3.4 GW of renewable portfolio including under implementation projects and is targeting to expand to 5 GW over next two years ~ ~ Earlier this year, Company has so far raised over INR 1450 crores in equity funding from ADB, DEG,FMO and Promoters~ […]