Clean energy player Avaada Power plans to invest ₹25,000 crore in the sector and develop 5,000 MW capacity in largely solar and wind projects in the next four years, a senior company executive has said.
““In the next four years, we will make ₹25,000 crore investments into the clean energy sector. The money will go into solar, wind, EPC, and rooftop, and we are going aggressively into the rooftop segment. We are also going into energy solutions,” Vineet Mittal, chairman of Avaada, told ET in an interaction.
Mittal was formerly the co-founder of Welspun Energy, which sold its entire renewable portfolio of 1,140 MW to Tata Power Renewable Energy in 2016, kicking off a streak of merger and acquisition activity in India’s renewable energy sector. Mittal declined to comment on any future acquisition plans for Avaada. Read More…
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