Current Affairs - Business - Discussion

Avaada Power Pvt Ltd, stated that, it will invest Rs 3,500 crore to establish 500 MW solar projects in Andhra Pradesh. An agreement regarding this was signed at the 'CII Partnership Summit 2018' in Vishakhapatnam. Avaada Power said that, the utility-scale solar projects will produce clean energy sufficient to sustainably power more than 2.4 million houses in Andhra Pradesh. This investment by Avaada Power would create over 1,200 job opportunities. Andhra Pradesh has a planned to achieve a goal of 18 GW of renewable energy capacities by 2021-22.