By taking this action, carbon emissions would be reduced by around 16.3 million tons annually, which would help power nearly 12.6 million households in India.
New Delhi: Avaada Group, a renowned Indian energy corporation, announced a Rs 40,000 crore investment to create 6000 megawatts (MW) of hybrid wind-solar energy projects in Gujarat, signing a Memorandum of Understanding (MoU) with the state government at the Vibrant Gujarat Summit 2024.
It is anticipated that the proposed facilities, which are mostly situated in the undeveloped wastelands of Kutch, will produce around 17.5 billion units of green power yearly. By taking this action, carbon emissions would be reduced by around 16.3 million tons annually, which would help power nearly 12.6 million households in India.
Apart from the environmental advantages, the projects are expected to generate about 1,200 employment, contributing to the economic growth of the local and regional communities.
The Avaada Group's Vineet Mittal underlined how urgently sustainable energy solutions are needed on a worldwide scale. He highlighted Gujarat's potential in this field because of its natural resources and advantageous location. "Renewable energy, along with green hydrogen and its derivatives, is emerging as a key alternative to fossil fuels," he stated.
Avaada Group currently has over 2 GW of projects operating or in development in Gujarat; this arrangement marks a considerable increase of its position in that state.