Avaada Ventures, an integrated energy platform, has signed an MoU with Uttar Pradesh Government for setting up Rs. 22,500 crore Green Ammonia Plant by 2026.

The Memorandum of Understanding(MoU) was signed on 6th December, 2022 between Avaada Ventures Pvt. Ltd. and UPSIDA (Uttar Pradesh State Industrial Development Authority). The facility will have a production capacity of 0.5 million tons per annum and will help in generating direct and indirect jobs to 15,000 people.       

In October 2022, Avaada Ventures had received an approval from Government of Karnataka for Rs. 45,000 crore Green Hydrogen project in Karnataka.  

In August 2022, Avaada group had signed a Memorandum of Understanding with the Department of Industries and Commerce, Government of Rajasthan to set up a Green Ammonia facility and a renewable energy power plant in Kota, Rajasthan. The plant is planned to be located in Kota District and will include a Green Ammonia facility with a production capacity of 1 million tons per annum

Avaada Group proposes an investment of Rs. 40,000 crore for Kota Plant while also providing direct employment opportunities to 3,500 and indirect jobs to 10,500 people.

Social entrepreneur Vineet Mittal-led Avaada Group is an integrated energy platform with business interests ranging from manufacturing solar cells, modules and electrolysers to renewable power generation, green hydrogen, and green ammonia production. Avaada Group’s flagship company Avaada Energy is India’s fastest-growing renewable energy IPP.

Within five years, it has developed an impressive portfolio and the firm plans to reach 11 GW by 2025 and 30 GW by 2030. Avaada Group’s solar manufacturing business comprises a state-of-the-art facility with an annual production capacity of 5 GW for cells and modules. The capacities are expected to get operational by early next year. By 2030, the group plans to scale up to 10 GW along with backward integration into polysilicon, ingots, and wafers.