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Uttar Pradesh Investors Summit: Avaada Power commits Rs10,000 crore

Avaada Power, a clean energy company, on Wednesday said it will invest Rs10,000 crore in setting up 1,600MW solar projects in Uttar Pradesh. The firm signed a memorandum of understanding (MoU) with the UP government during Investors Summit 2018, in Lucknow. “The projects will be developed across Mirzapur, Badaun, Gorakhpur and Bundelkhand districts,” the company said in a statement adding that the investment will churn out nearly 3,700 jobs.Avaada’s projects will help UP meet its annual target of 2,000MW production capacity of solar energy. The state has an installed capacity of 569.35MW solar energy and has the potential to touch a high generation figure of 22.8GW.“With its solar commitment, the organisation will be able to mitigate nearly.....

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