Avaada Group has achieved financial closure of approximately $1.3 billion for a 2,150 MW renewable energy portfolio. The financing has been sanctioned by the State Bank of India, REC Limited, and Canara Bank across four special purpose vehicles.
The portfolio comprises 1.35 GW of hybrid renewable energy projects and 800 MW of utility-scale solar projects being developed for Maharashtra State Electricity Distribution Company Limited and Gujarat Urja Vikas Nigam Limited. Collectively, the projects involve the development of more than 3,000 MW of solar capacity and 450 MW of wind capacity across Gujarat and Maharashtra.
In July 2026, Avaada Group commissioned the first 3 GW production line of its 6 GW high-efficiency n-type TOPCon solar cell manufacturing facility through its solar manufacturing arm, Avaada Electro Limited, at its integrated solar manufacturing plant in Butibori, Nagpur, Maharashtra.
