Avaada Powers Up! ₹315 Crore Secured for Captive Solar Project

Avaada Energy, a prominent player in the renewable energy sector, has announced the successful closure of financing amounting to approximately ₹315 crore (equivalent to about $38 million) from Aseem Infrastructure Finance (AIFL). This strategic financing initiative, completed on Wednesday, signifies a significant milestone in Avaada Energy's journey towards sustainable energy solutions. As part of the Avaada Group, Avaada Energy continues to spearhead innovative projects aimed at bolstering India's renewable energy infrastructure.

Aseem Infrastructure Finance Limited (AIFL), an Infrastructure Finance Company (IFC) with a focus on catalyzing growth in Indian infrastructure debt financing, played a pivotal role in providing the financial backing for Avaada Energy's solar PV power project. This collaboration underscores AIFL's commitment to fostering transformative investments that drive the nation's infrastructure development agenda forward.

The financing secured by Avaada Energy is earmarked for its solar PV power project, which operates under a long-term captive Power Purchase Agreement (PPA) with the Karnataka Cooperative Milk Producers' Federation (KMF). This agreement underscores Avaada Energy's dedication to forging strategic partnerships aimed at promoting clean energy adoption across various sectors.

Avaada Energy's solar PV power project, supported by the financing from AIFL, exemplifies the synergy between public and private entities in advancing India's renewable energy goals. By leveraging innovative financing mechanisms and long-term PPAs, Avaada Energy is poised to make a significant contribution towards enhancing energy security and sustainability in the region.

This successful financing closure not only underscores Avaada Energy's financial resilience but also reaffirms its position as a key player in India's renewable energy landscape. With a steadfast commitment to innovation and sustainability, Avaada Energy continues to pave the way for a greener and more resilient future for India's energy sector.

News by Rahul Yelligetti