Avaada Group to Invest Rs 50,000 Crore in MP Renewable Energy

Bhopal, Feb 24 (PTI) Avaada Group on Monday outlined an aggressive expansion blueprint for Madhya Pradesh with plans to invest Rs 50,000 crore in renewable energy projects over the next 5 years.

Avaada chairman Vineet Mittal said the company has been investing in Madhya Pradesh for quite some time now and has won several mandates from NTPC, NHPC, and others.

"We have been investing in Madhya Pradesh for quite some time, since 2010, and now we have won several projects from NTPC, NHPC, and others. We are going to place those projects in the Malwa, Bundelkhand, and Bhind areas of Madhya Pradesh. We are going to be investing in solar production, wind, pumped storage, and battery storage," he said.

Pledging the renewable energy (RE) company's long-term investment in MP's growth, Mittal said the company is investing Rs 50,000 crore in the next 5 years in the state.

He was speaking on the sidelines of the ongoing Madhya Pradesh Global Investor Summit 2025, where the state is showcasing its vast investment potential to global investors and businesses.