Avaada Group is looking to raise $1 billion (over ₹8,400 crore) in debt by March next year to fund its projects. "We will raise this debt to fund wind, solar and other projects. We have already raised equity," chairman Vineet Mittal told FE.
The group has an operational capacity of over 4 gigawatt (GW) and aims to have an installed base of 11 GW by 2026 and 30 GW by 2030. "We could do it (30 GW capacity) earlier if transmission lines come up," Mittal said.
The portfolio includes 5 gigawatt-hours of battery storage and 10 GWh of long-duration pumped hydel storage.
Last year, Avaada Group raised $1.3 billion from Canadian investor Brookfield and Global Power Synergy (GPSC) to fund its green hydrogen and green ammonia ventures in the country.
Esta historia es de la edición December 23, 2024 de Financial Express Ahmedabad.
Comience su prueba gratuita de Magzter GOLD de 7 días para acceder a miles de historias premium seleccionadas y a más de 9,000 revistas y periódicos.
Ya eres suscriptor ? Conectar
Esta historia es de la edición December 23, 2024 de Financial Express Ahmedabad.
Comience su prueba gratuita de Magzter GOLD de 7 días para acceder a miles de historias premium seleccionadas y a más de 9,000 revistas y periódicos.
Ya eres suscriptor? Conectar
The year AI took centrestage
The debate if it is a blessing or a Frankenstein rages on
'Tech must become accessible & affordable'
Panellists discussed how technology can be leveraged to help in urban planning and expansion at the fifth edition of the IE Thinc: CITIES series, presented by The Indian Express with Omidyar Network India. The session was moderated by Udit Misra, Associate Editor
Shyam Benegal, pioneer of parallel cinema, dies
Hindi cinema stepped into an exciting new phase with the rise of the 'Angry Young Man' in the '70s,
Now, Musk wants you to pay 'X-tra' as premium plans
Marks the largest price increase since acquisition
Toyota-Suzuki pact should be the template in India
ANALYSTS SAID THAT for the Indian market, auto firms can't afford to be just in segments like petrol and diesel.
For IT firms, it's a mixed blessing
DESPITE CURRENCY PRESSURES, the sector's growth is underpinned by strong demand, particularly in cloud and AI-driven transformation projects,\" said an industry analyst.
Honda, Nissan on merger road
SMALLER MITSUBISHI MOTORS, in which Nissan is top shareholder, was also considering joining and would make a decision by the end of January, the companies said.
UK insurer Aviva to shed up to 2,300 jobs in $4.65-billion deal
British insurer Aviva could cut up to 2,300 jobs as it takes over smaller rival Direct Line in a 3.7 billion pound ($4.65 billion) cash-and-stock deal, the companies said on Monday, creating the UK's largest home and motor insurer.
Noel Tata: From shadows to spotlight
THE NEW CHAIRMAN of Tata Trusts, however, has done enough to remove the earlier perception of \"lack of exposure\".
US launches new probe into legacy Chinese chips
The Biden Administration announced on Monday a last-minute trade investigation into older Chinese-made \"legacy\" semiconductors that could heap more U.S. tariffs on chips from China that power everyday goods from autos to washing machines to telecoms gear.
