Renewable energy company Avaada Group has secured $950 million in financing from a consortium of global and domestic banks for renewable energy projects in India.

The financing covers the financial closure of its firm and dispatchable renewable energy (FDRE) project in Bikaner, Rajasthan. It also covers debt financing for two 300 MW solar power projects in Rajasthan and Gujarat.

Avaada Group currently operates around 7.2 GW of renewable energy capacity and has outlined an ambitious expansion roadmap to reach 11 GW by 2026 and 30 GW by 2030. The company has developed more than 203 renewable energy projects.

It had also stated that achieving its 30 GW operational target by 2030 could help avoid nearly 47 million tons of carbon dioxide equivalent (tCO₂e) in annual emissions. Several of its projects have already secured approvals under internationally recognized carbon credit mechanisms, while others are progressing through various stages of certification.

The company has commissioned 2,116 MW of capacity and is implementing an additional 1,960 MW in Rajasthan. In Gujarat, it has commissioned 1,575 MW and is developing another 1,299 MW. The company has also commissioned a 1.25 GW project in Bikaner, Rajasthan.

Beyond power generation, Avaada is expanding into solar manufacturing by developing an integrated facility to produce ingots, wafers, solar cells, and modules.

Last September, Avaada Group commissioned 11 solar power projects totaling 35 MW in the Yavatmal district of Maharashtra under the Mukhyamantri Saur Krushi Vahini Yojana (MSKVY).

Last May, Global Renewable Synergy Company, a subsidiary of Bangkok-headquartered Global Power Synergy Company, divested 3% of its shares in India-based green energy solutions company Avaada Energy, valued at $79 million (~₹6.66 billion).

In March 2025, the company inaugurated a 1.5 GW solar module manufacturing gigafactory in Dadri, Noida. It also laid the foundation for a 5 GW solar manufacturing unit at Ecotech, Greater Noida.

In the same month, Avaada Group emerged as one of the winners for NHPC’s auction to set up 1,200 MW interstate transmission system (ISTS)-connected wind-solar hybrid power projects with or without energy storage (Tranche -X). The company had won 210 MW out of the 600 MW quoted at a tariff of ₹3.42 (~$0.0392)/kWh.