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Avaada in Talks with Global Lenders to Raise Rs8,345 Cr for Renewable Project Pipeline

Avaada Group, a prominent Indian renewable energy company, is in advanced discussions with leading global lenders including Standard Chartered Bank, SMBC, BNP Paribas, and Societe Generale to raise over Rs8,345 crore in project finance debt.

The funding will support its growing pipeline of solar, wind, pumped storage, and green hydrogen/ammonia projects. Chairman Vineet Mittal noted the company's shift toward securing capital from international financial institutions to benefit from globally competitive interest rates, particularly as it executes central utility-scale renewable energy projects. In FY25, Avaada already raised over Rs8,345 crore from domestic lenders such as SBI, NaBFID, Axis Bank, and PFC.

Looking ahead, Avaada anticipates total investments of Rs35,000–40,000 crore over the next three years to support expansion across renewables, electronics manufacturing, pumped storage, and green fuels. The group currently has 3,000 MWp of solar and wind projects under construction, and is collaborating with CTU and STUs to align project commissioning with grid readiness.

Avaada’s operational capacity stands at 5.4 GWp, with clear targets to reach 11 GWp by 2026 and 30 GWp by 2030. In 2023, Avaada also secured Rs8,939.65 crore from Brookfield for its green hydrogen and ammonia ventures, part of its broader Rs10,848.5 crore capital raise.