Avaada Energy and Al Jomaih Energy and Water Embark on a Strategic Alliance for Renewable Power Advancements in the Middle East
NEW DELHI, Sept. 12, 2023 /PRNewswire/ — Avaada Energy the renewable arm of Avaada Group (www.avaada.com) , a global pioneer in the renewable energy landscape, is elated to announce its strategic partnership with Al Jomaih Energy and Water (AEW) to pioneer renewable power generation in the Kingdom of Saudi Arabia and selected Middle Eastern regions. This significant stride is marked by the signing of a Memorandum of Understanding (MoU) between the two esteemed entities.
The alliance is set to explore the vast potential of Solar, Wind, Hybrid, and Battery Energy Storage solutions. “Joining forces with AEW underscores our dedication to bringing sustainable energy innovations to the Middle East,” expressed Mr. Vineet Mittal, Chairman of Avaada Group.
The MoU paves the way for a collaborative approach, with a dedicated committee from both AEW and Avaada overseeing potential projects. AEW, with its deep-rooted local expertise, will interface with stakeholders and provide essential resources. In contrast, Avaada will infuse the partnership with its extensive development experience and technical acumen.
The collaboration extends to Engineering, Procurement, and Construction (EPC) and Operations & Maintenance (O&M) services. Avaada is poised to present its competitive EPC solutions and qualifications for collaborative O&M setups in Saudi Arabia.
The Avaada Group, steered by visionary Vineet Mittal, is an integrated green energy platform with expertise across solar manufacturing, production of green hydrogen & its derivatives, green fuels, renewable power generation and electrolyser manufacturing. Avaada Energy, its flagship entity, is India’s rapidly evolving renewable energy IPP, targeting 11 GW of projects by 2026 and an ambitious 30 GW by 2030. Avaada recently secured a significant funding round of $1.3 billion, including investments from Brookfield and GPSC, to amplify its green hydrogen ventures.
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