Avaada Group will invest ₹1 lakh crore over the next five years as part of an ambitious expansion strategy to increase its renewable-energy generation capacity to 30 GW. Chairman Vineet Mittal told ET that the company currently operates 6.1 GW of capacity with nearly 10 GW more under construction. Avaada intends to add 4 to 5 GW of new capacity annually which will require an investment of about ₹20,000 crore each year.

Mittal said the scale-up will be financed through a combination of equity, debt and internal cash flows. He noted that Avaada has previously raised more than ₹10,500 crore from investors such as PTT Thailand, Brookfield Renewable and the Asian Development Bank. According to him equity availability is not a challenge for the company. Instead grid readiness remains the primary constraint affecting timely execution. States including Maharashtra and Gujarat have aligned with central connectivity norms which has helped shorten execution timelines. With major transmission upgrades expected between 2026 and 2028 Avaada anticipates consistent commissioning across its projects.

Strong manufacturing focus and capacity expansion

Avaada said its core solar and wind business continues to deliver strong profitability. Its manufacturing arm, Avaada Electro, is also generating healthy cash flows. The division has filed for a ₹10,000 crore IPO planned for 2026 which is expected to support further vertical integration.

In addition to cell and module manufacturing, the group is developing a 1,200-tonne-per-day solar glass facility in Nagpur. This plant will be co-located with Avaada’s other manufacturing units which will help eliminate logistics costs for almost 70 percent of the output. The facility is expected to be operational within 13 to 14 months.

The company, which currently employs more than 6,000 people, plans to hire an additional 10,000 staff over the next three years as it scales its manufacturing and asset management operations. Mittal emphasised that vertical integration is essential for building supply chain resilience especially after disruptions experienced during the Covid-19 pandemic. Avaada aims to strengthen in-house capabilities where domestic expertise is limited and outsource components where global quality is superior.

Source:
https://economictimes.indiatimes.com/industry/renewables/avaada-group-to-invest-1-lakh-crore-to-expand-operations/articleshow/125621419.cms?from=mdr