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Thursday, Aug 22, 2019

Uttar Pradesh just a right place for solar energy projects: Avaada

Avaada Power Pvt. Ltd, a clean energy company, has signed a Memorandum of Understanding (MoU) with the Uttar Pradesh government to invest Rs 10,000 crore in the state for developing 1600 MW solar projects.

lucknow Updated: Feb 22, 2018 15:56 IST
Anupam Srivastava
Anupam Srivastava
Hindustan Times, Lucknow
Avaada Power chairman Vineet Mittal.
Avaada Power chairman Vineet Mittal.(HT Photo)
         

Avaada Power Pvt. Ltd, a clean energy company, has signed a Memorandum of Understanding (MoU) with the Uttar Pradesh government to invest Rs 10,000 crore in the state for developing 1600 MW solar projects. Avaada Power chairman Vineet Mittal spoke on the issue on Wednesday.

Excerpts:

In which cities of the state will the company invest?

The projects will be developed across Mirzapur, Badaun, Gorakhpur and Bundelkhand districts. Uttar Pradesh currently has an installed capacity of 569.35 MW solar energy and has the potential to touch a high generation figure of 28 GW. Avaada Power plans to help in bridging this gap.

How many jobs will be created in the state?

Nearly 3,700 employment opportunities will be created. The company’s commitment is in line with Uttar Pradesh’s annual target of 2000 MW production capacity of solar energy. The MoU was signed as part of ‘UP Investors Summit 2018’, in the presence of chief minister Yogi Adityanath”

How is solar energy better and cheaper than conventional energy?

With its solar energy commitment of Rs 1600 crore , the organisation will be able to mitigate nearly 25,79,820 tonnes of carbon emissions on an annual basis. Clean energy generated through these projects will be enough to power nearly 7.44 million households in Uttar Pradesh. Now, solar energy is costing just Rs 4.50 per unit, which is competitive in comparison to the energy produced by coal.

Why UP is a good choice for solar energy projects?

The state falls under high solar irradiation zone, which offers tremendous opportunities for expanding the clean energy portfolio. We are glad that this MoU will enable Uttar Pradesh to be the front-runner in achieving the prime minister’s vision of 100GW of solar energy by 2022. The company is committed to providing affordable, clean and abundant power for the country and will continue to focus on innovative green technologies.”

What about land acquisition for the project?

The company will negotiate with farmers for land acquisition on its own.

First Published: Feb 22, 2018 14:31 IST

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