Avaada Energy, a leading independent power producer of renewable energy, on Thursday said it is in the process of implementing 2000 MW solar projects across five states — Maharashtra, Tamil Nadu, Haryana, Karnataka, and Odisha.
The company has commissioned more than 1800 MW of renewable assets —solar and wind — to date.
"Avaada Energy has commissioned over 1.8 GW (1800 MW) of renewable assets (solar and wind) and is in the process of implementing 2000 MW of open access solar plants in states like Maharashtra, Tamil Nadu, Haryana, Karnataka and Odisha," the company said in a statement.
The company said that the plants are being built for corporates who are looking to optimise their operating costs. Besides, the corporates are also looking to meet their green energy needs through solar, rooftop and hybrid energy solutions with the plants, it added.
"Avaada continues to contribute to India's green energy revolution. Open access is a highly credible and economical solution for corporates looking to bring down their electricity bills and carbon dioxide emissions significantly," stated Vineet Mittal, chairman, Avaada Energy.
The company recently raised more than Rs 1,000 crore from investors that included the Asian Development Bank, Dutch Development Bank and Netherlands Development Finance Company.
It aims to develop 5 GW of renewable energy portfolio in Asia and Africa by 2022.
(With inputs from PTI)
First Published: Jul 26, 2019 12:55 PM IST
Check out our in-depth Market Coverage, Business News & get real-time Stock Market Updates on CNBC-TV18. Also, Watch our channels CNBC-TV18, CNBC Awaaz and CNBC Bajar Live on-the-go!
Punjab Lok Sabha elections: Check full list of AAP candidates and constituencies
May 18, 2024 12:59 PM
PM Modi, Rahul Gandhi election rallies in Delhi today: Here are the routes to avoid
May 18, 2024 11:28 AM