Avaada Group has secured ₹12,800 crore in financing to support renewable energy expansion in Gujarat and Maharashtra. The funding comes from State Bank of India, Canara Bank and Rural Electrification Corp, according to the reported details.
The company said the financing will back 2.15 GW of renewable energy projects across the two states. The deal marks a major funding package for Avaada as it moves ahead with large-scale clean energy development.
Commercial operations for the new projects are expected to begin from March 2027. That timeline places the projects in Avaada’s medium-term pipeline as India continues to add renewable power capacity.
The latest loan underlines continued lender interest in utility-scale renewable energy projects. For Avaada, the Gujarat and Maharashtra developments are set to be an important part of its upcoming generation capacity.
