Avaada Group, a key player in India’s renewable energy sector, has signed a Memorandum of Understanding (MoU) with the Government of Bihar to develop 1 gigawatt (GW) of renewable energy capacity across the state. The agreement was formalized as part of the state’s launch event for its new Renewable Energy (RE) and Pumped Storage Policy (PSP).
Under the terms of the MoU, Avaada will invest INR 5,000 crore to establish a mix of clean energy projects, including ground-mounted solar, floating solar, community solar plants, and battery energy storage systems (BESS). The Bihar government, through its nodal agency Bihar Renewable Energy Development Agency (BREDA), will support the initiative by facilitating necessary clearances and approvals from relevant departments.
The MoU was signed in the presence of Shri Bijendra Prasad Yadav, Hon’ble Minister of Energy, and Shri Nitish Mishra, Hon’ble Minister of Industries. The agreement was executed between BREDA and Shri Kishor Nair, Chief Executive Officer of Avaada Energy Private Ltd.
Welcoming the state’s new policy framework, Shri Vineet Mittal, Chairman of Avaada Group, lauded the Bihar Government and the Energy Department for introducing one of the most progressive RE policies in the country, which is expected to attract significant private investment into the sector.
Speaking on the partnership, Shri Kishor Nair, CEO of Avaada Energy, said,
“At Avaada, we are committed to accelerating India’s energy transition while contributing to regional growth. Our collaboration with the Government of Bihar is a major step toward unlocking the state’s renewable energy potential. These projects will not only generate clean power but also create jobs, attract ancillary industries, and promote inclusive socio-economic development. We are proud to contribute to Bihar’s vision for a sustainable and greener future.”
The renewable energy projects under this MoU are expected to commence production within two years of executing power purchase agreements (PPAs) with the respective state agencies and securing access to suitable land or water bodies. The initiative is projected to generate direct employment for around 500 people, in addition to indirect opportunities through supply chain and infrastructure development.
Avaada will also be eligible for incentives under Bihar’s RE policy guidelines, further strengthening the commercial viability of the proposed investments. The partnership underscores Bihar’s push to become a prominent destination for renewable energy investment in eastern India.
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