Avaada Group and Government of Madhya Pradesh Sign MoU Worth INR 50,000 Crore

Avaada Group has signed a Memorandum of Understanding (MoU) with the Government of Madhya Pradesh, committing an investment of INR 50,000 crore. The agreement, formalized at the MP-GIS 2025 Curtain Raiser event, inaugurated by Prime Minister Narendra Modi in New Delhi, reinforces Avaada’s dedication to transforming the state into a major hub for sustainable energy.

This investment will drive the development of 6,000 MW of solar energy, 700 MW of wind energy, 2,100 MW of Battery Energy Storage Systems (BESS), and 2,000 MW of pumped storage projects. Additionally, Avaada will establish green energy equipment manufacturing facilities, further strengthening the state’s clean energy ecosystem. These projects will create thousands of direct and indirect employment opportunities, boost local industries, and contribute significantly to Madhya Pradesh’s economic growth.

Reflecting on Avaada’s long-standing partnership with Madhya Pradesh, Vineet Mittal, Chairman, Avaada Group, stated: "Madhya Pradesh is emerging as a beacon of India’s energy transition, driven by its strategic vision, progressive policies, and dynamic leadership. In 2013, we laid the foundation for our renewable energy journey here with a 151 MW project—then the largest in Asia and the second-largest in the world. Today, we are deepening our commitment with a  INR 50,000 crore investment in solar, wind, pumped storage, and green energy equipment manufacturing.

Under the leadership of Hon’ble Chief Minister Dr. Mohan Yadav, Madhya Pradesh is uniquely positioned to lead India’s green energy revolution, with abundant sunlight, wind potential, and a skilled workforce ready to power the future. With this investment, we strive to support the state’s vision of becoming a leading hub for green energy, driving skill development and fostering economic growth.”

This collaboration aligns with Madhya Pradesh’s long-term vision of leveraging its abundant natural resources for sustainable development. By fostering innovation, scaling up renewable energy adoption, and stimulating economic activity across multiple sectors, the state aims to play a pivotal role in achieving India’s ambitious target of 500 GW of non-fossil fuel capacity by 2030.