Avaada Fuels India's Green Future with ₹12,800 Crore Mega Loan for Gujarat, Maharashtra Projects

Avaada Group just locked in a massive ₹12,800 crore (about $1.3 billion) loan from top Indian lenders like State Bank of India, Canara Bank, and Rural Electrification Corporation. This huge financial boost will power 2.15 gigawatt (GW) of new green energy projects across Gujarat and Maharashtra, marking one of India's biggest clean energy debt deals this year. This timely investment underscores India's aggressive push towards its ambitious goal of 500 GW of non-fossil fuel capacity by 2030 and achieving net-zero emissions by 2070. The projects, which include both hybrid renewable energy and dedicated solar plants, have already secured long-term Power Purchase Agreements with state electricity distribution companies in Maharashtra and Gujarat, ensuring stable revenue for their 21.5-year loan tenure. India has already surpassed its interim target of 50% non-fossil fuel capacity, proving its commitment to a greener grid. With commercial operations kicking off as early as March 2027 and continuing into March 2028, these plants will add significant clean power to India's grid. The deal reflects growing investor confidence in India's renewable sector, which continues to attract major financing as the nation races to meet its energy demand sustainably. Expect more such big-ticket green finance deals as India accelerates its energy transition.