Avaada to invest ₹5,000 crore for 1 GW renewable energy projects in Bihar

The Avaada Group has signed a memorandum of understanding with the Bihar government to invest ₹5,000 crore for developing 1 gigawatt (GW) of renewable energy capacity in the state. The deal was formalised in the presence of Bihar Energy Minister Bijendra Prasad Yadav and Industries Minister Nitish Mishra, coinciding with the launch of the state's new renewable energy and pumped storage policy.

Under the agreement, the projects will span ground-mounted, floating solar, and community solar installations, along with battery energy storage systems. The state government has committed to facilitating the necessary land and water access, as well as helping Avaada obtain approvals and clearances from relevant departments.

“Our partnership with the Government of Bihar marks a significant step towards harnessing the state’s renewable energy potential... Beyond clean energy generation, this investment will create employment opportunities, attract allied industries, and foster sustainable socio-economic progress,” said Kishor Nair, CEO of Avaada Energy.


The initiative is expected to generate direct employment for around 500 people. Project execution will begin after power purchase agreements are signed with state agencies, and production is expected to commence within two years. Avaada will also be eligible for incentives under Bihar’s prevailing renewable energy policy.

With inputs from PTI