Indian renewable energy company Avaada Group is considering starting manufacturing solar equipment from next year. It plans to manufacture cells and modules.
According to the company, it will mainly have two facilities for solar equipment manufacturing. Through the production, it plans to cater to the demands of US and Europe apart from captive consumption.
Avaada Group chairman Vineet Mittal shared that the company would also enter polysilicon and wafer manufacturing. Besides, the company is also looking for solar schemes.
Earlier, it had “applied for the first tranche of the production-linked incentive scheme for solar modules..and now is interested in applying for the second tranche.”
Mittal further shared that the company is also considering starting green hydrogen production from next year.
The latest plan follows Thailand energy major PTT Group’s acquisition of a 41.6% stake in Avaada Energy Pvt. Ltd for about $454 million last year, a local report mentioned.
“We have decided to come out with a 1 million tonne RFP (request for proposal) by December for EPC, and next year we will award the EPC for the first hydrogen project,” a local report quoted.
Besides, the company has also planned for around 3000MW of wind energy by 2030.
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