Avaada Group, a renewable energy company with a 700-strong workforce, is all set to add about 3,000 more members to it team. The expansion will happen over a period of two years as it focuses on enhancing its activities in the solar module-manufacturing space as well as in the area of green hydrogen operations. With the government having announced schemes worth over Rs 17,000 crore to support electrolyser manufacturing and green hydrogen production, Avaada’s hiring plans are rightly timed.
Recently, Avaada managed to obtain a funding of about $1.3 billion. The firm, which has an energy capacity of 4GW, is in the process of constructing operational renewable energy capacity of 3 GW. This capacity will be scaled up to at least 30 GW in the next seven years.
The company is working towards establishing a million tonne per annum green hydrogen facility as part of its green hydrogen, green ammonia and green methanol projects. This is a step in the right direction, given the fact that India’s renewable energy sector is growing and evolving rapidly with the government having set a target of 500 GW installed renewable capacity in seven years, along with a target of net-zero emissions by 2070.
Avaada hopes to be known as ‘sand-to-molecule’ company, and is working on establishing a 3 GW solar module manufacturing unit. It is also working towards increasing its cell-to-module capacity to 5 GW in two years’ time.
Vineet Mittal is the chairman and founder of Avaada Group.