Bhubaneswar, Jan 29: In a major push for Odisha’s renewable energy sector, Avaada Group has announced a massive investment of ₹20,700 crore in Gopalpur.
The initiative marks a significant step toward advancing sustainable energy solutions and generate thousands of job opportunities.
Vineet Mittal, Chairman of Avaada Group, emphasised the economic and environmental benefits of this investment, highlighting its potential to transform the region into a hub for green energy.
"Our vision is to make Odisha a leader in clean energy while creating employment and infostering sustainable development," Mittal stated.
This isn't Avaada’s first major commitment to Odisha’s green energy ambitions.
Back in October 2024, the company pledged ₹20,000 crore towards the state’s renewable energy projects, reinforcing its long-term commitment to sustainability.
The latest investment will primarily focus on green hydrogen and ammonia production—key components in the transition to clean energy. The project is expected to generate approximately 1,600 direct jobs and create an additional 4,000 indirect employment opportunities, providing a much-needed economic boost to the region.
With its continued investments, Avaada Group is not only helping Odisha reduce its carbon footprint but also positioning the state as a leader in India’s clean energy future.
Speaking at the event, Mr. Vineet Mittal, Chairman of Avaada Group, said: "Odisha is poised to lead India's renewable energy revolution. The state's rich resources and visionary leadership create unparalleled opportunities for green industrialization. Our ₹20,700 crore investment in renewable energy projects, including floating solar and pumped storage demonstrates our commitment to sustainability and innovation. We are proud to partner with the Government of Odisha to build a greener, stronger future for the region."
Mr. Mittal highlighted that these initiatives align with India's target of achieving 500 GW of renewable energy capacity by 2030, as well as Odisha's strategy to position itself as a global investment destination. With its strong fiscal health, as reported in NITI Aayog's Fiscal Health Index 2025, Odisha is well-positioned to attract investments that drive sustainable development.
