Avaada Group pledges to invest Rs 5,000 cr for 1 GW RE project in Bihar

Renewable energy company Avaada Group on Wednesday said it has inked an initial pact with the Bihar government to invest Rs 5,000 crore to develop 1 GW of renewable energy projects across the state.

The state government would also facilitate the company in obtaining necessary approvals or clearances from the concerned departments, a statement said.

Under the memorandum of understanding, Avaada will invest Rs 5,000 crore for developing an aggregate 1 GW capacity of renewable energy projects encompassing ground-mounted, floating solar, community solar plants and battery storage projects, among others.

This article has been republished from The PTI.