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.
This story is from the December 23, 2024 edition of Financial Express Delhi.
Start your 7-day Magzter GOLD free trial to access thousands of curated premium stories, and 9,000+ magazines and newspapers.
Already a subscriber ? Sign In
This story is from the December 23, 2024 edition of Financial Express Delhi.
Start your 7-day Magzter GOLD free trial to access thousands of curated premium stories, and 9,000+ magazines and newspapers.
Already a subscriber? Sign In
At the G, India up against Head-strong Australia
● In-form batter declared fit for Boxing Day Test
5 trains to run between Delhi and Kashmir
Heated coaches, airport-like security check
Noted Malayalam writer Vasudevan Nair dies
NOTED WRITER AND Jnanpith award winner M T Vasudevan Nair, who had been undergoing treatment at a private hospital in Kozhikode (Kerala) following heart failure, has passed away, hospital sources said on Wednesday. He was 91.
Despite rising volume, muted crude prices help lower oil import bill
THE SOFTENING IN global crude oil prices over recent months has resulted in India's oil import bill contracting on a year-on-year basis in September, October, and November, despite import volumes rising in each of these months, latest petroleum ministry data shows.
Heated coaches, airport-like security check
Heated coaches, airport-like security check
Prosperity through cooperation
The United National General Assembly (UNGA) adopted a resolution proclaiming 2025 as the International Year of Cooperatives with 'Cooperatives Build a Better World' as the theme.
Office Leasing in Top Six Cities Hits Record: Report
WITH RISING DEMAND of premium workspaces, real estate consultant Anarock has said that realty firms are currently developing around 250 lakh square feet of office space across major cities for catering to the requirements of domestic and foreign companies.
The Angry Young Man
₹ impact on auto sector
Investors Get Good Exits in IPO Frenzy
A whopping ₹1.6 lakh crore has been mopped up in the primary market in 2024 by 90 firms, the highest so far in a year, topping the ₹1.19 lakh crore raised through IPOs in 2021 by 63 companies.
Impact on auto sector
However, the falling rupee presents challenges for import-dependent luxury carmakers like Mercedes-Benz, BMW, Audi, and Volvo.
