Avaada Group, a diversified Indian energy conglomerate, has signed a Memorandum of Understanding (MoU) with the State Government of Gujarat (India) to invest INR36,000 crore (US$ 4bn) in solar, wind, and battery energy storage system (BESS) projects across the state. Under the agreement, Avaada will develop 5 GW of solar power, 1 GW of wind power, and 5 GWh of BESS capacity across the districts of Kutch, Banaskantha, and Surendranagar. All projects are expected to be commissioned between 2027 and 2030.
In its CEA National Electricity Plan 2022, India aims to install 500 GW of non-fossil fuel-based capacity in 2030, with an intermediate target of 358 GW at the end of FY2026. The renewable capacity (including large hydro) reached 198 GW in 2024 (37% of the total country’s electricity capacity mix), 97 GW of which from solar, 52 GW from hydro, and 48 GW from wind.