Avaada Group plans to invest Rs 5,000 cr in Madhya Pradesh’s power sector

Chief Minister Yadav said the state would start producing over 20,000 megawatts of renewable energy.

2 minutes of reading Last update: Sep 17, 2024 | 12:15 PM IST

Avaada Group, which operates in the renewable energy sector, has proposed to invest Rs 5,000 crore in Madhya Pradesh. The group made the proposal during a one-on-one meeting with Chief Minister Mohan Yadav on Monday. The prime minister was in Gandhinagar to attend a three-day renewable energy investors’ meet inaugurated by Prime Minister Narendra Modi.

Avaada Group focuses on the development of large-scale projects in solar modules, renewable energy production, green hydrogen, green methanol, green ammonia and sustainable aviation fuel.

The Wind Power Association has urged the Chief Minister to develop wind farms in the state on the lines of solar parks. Torrent Power has asked for a policy formulation for pumped hydroelectric power storage projects in the state, while Sembcorp Group has expressed interest in investing in the proposed Morena and Neemuch solar projects. Borosil Group has expressed interest in setting up a solar glass manufacturing unit in the state.

On the occasion, Chief Minister Yadav said that the state would start generating over 20,000 megawatts of renewable energy in the next few years and that by 2030, 50 per cent of the total energy would come from renewable sources. In 2012, the state had a renewable energy production capacity of around 500 megawatts. Now, the total capacity has increased to 7,000 megawatts, a 14-fold increase in the last 12 years. The Chief Minister added that the Rewa Solar Power Project has been included as a case study in the syllabus of Harvard University. He also noted that Madhya Pradesh has surplus electricity, which is supplied to the Delhi Metro.

First published: Sep 17, 2024 | 12:14 PM IST