Avaada Power is reportedly planning to invest Rs. 25,000 crore in the clean energy sector in next four years reports ET. The firm will develop 5,000 MW capacity in largely solar and wind projects.
Vineet Mittal, chairman of Avaada speaking to the publication said “In the next four years, we will make Rs.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. ”
He further added before the end of this year the company will have 1,000 MW operational capacity and it plans to do 1,000-1,500 MW every year.
Mittal said that if the group manages the 5 GW target in four years, it will demonstrate the company’s capability to global investors. As part of its overseas operations the company is also looking to develop projects in South Asia and Africa.
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