Avaada Group signed a Memorandum of Understanding (MoU) with the Haryana Enterprises Promotion Centre (HEPC), Government of Haryana, to develop a 300-acre green industrial campus in Hisar. The proposed project will involve an investment of approximately ₹10,000 crore. The green industrial campus will operate on reliable, traceable and round-the-clock renewable energy. Consequently, it aims to support industries seeking to decarbonise their operations while addressing evolving carbon regulations and sustainability requirements.
Haryana Government to Support Project Development
Under the MoU, the Government of Haryana, through HEPC, will facilitate the development of the proposed project as a state-supported green industrial park, with a focus on industries affected by the Carbon Border Adjustment Mechanism (CBAM) and other emerging carbon-related requirements. Furthermore, the state government will explore measures to support the project, including facilitating industrial park status, exploring a customised package of incentives, developing common infrastructure and utilities and expediting statutory approvals through the state’s single-window clearance mechanism. In addition, HEPC will coordinate with relevant state authorities to facilitate the smooth implementation of the proposed green industrial campus.
Avaada Secures $1.3 Billion for Renewable Energy Portfolio
Avaada Group recently achieved financial closure of approximately $1.3 billion for a 2,150 MW renewable energy portfolio. The State Bank of India, REC Limited and Canara Bank sanctioned the financing across four special-purpose vehicles. As reported by renewablewatch.in, the latest financial closure further strengthens Avaada Group’s renewable energy expansion plans and supports its broader efforts to develop clean energy infrastructure and sustainable industrial solutions in India.
