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Avaada Group to Invest Rs5,000 Cr in 1 GW Renewable Energy Projects in Bihar

Avaada Group has signed a landmark Memorandum of Understanding (MoU) with the Government of Bihar to develop 1 GW of renewable energy projects across the state. This investment, estimated at Rs5,000 crore, will encompass ground-mounted solar, floating solar, community solar plants, and battery storage systems. The collaboration marks a significant step forward in Bihar’s clean energy journey and aligns with the launch of the state’s new Renewable Energy (RE) and Pumped Storage Projects (PSP) policy.

The MoU was formalized between the Bihar Renewable Energy Development Agency (BREDA) and Avaada Energy Private Ltd, represented by its CEO Kishor Nair, in the presence of Bihar’s Hon’ble Energy Minister Bijendra Prasad Yadav and Industries Minister Nitish Mishra. Avaada's investment aims to catalyze the energy transition while supporting regional economic development. The Bihar government has committed to facilitating all necessary clearances and land or water body identification for project development.

According to Kishor Nair, the projects are not only about clean energy generation but also about fostering local employment, attracting supporting industries, and contributing to Bihar’s socio-economic progress. The projects are expected to generate direct employment for 500 individuals and are likely to commence production within two years of signing Power Purchase Agreements (PPAs) with the state.

Avaada will also benefit from incentives outlined under Bihar’s newly launched RE policy, which is being hailed as one of the most progressive in the country. Vineet Mittal, Chairman of Avaada Group, praised the state government for designing a policy framework that is investor-friendly and conducive to rapid renewable energy deployment.

This partnership is poised to make Bihar a key contributor to India’s renewable energy landscape while enhancing energy security, reducing carbon emissions, and supporting the state’s green development goals.