Avaada to invest ₹40,000 crore in green ammonia and methanol projects
Avaada, backed by Thailand's PTT group, plans to spend roughly ₹20,000 crore each on a green ammonia plant in Odisha and a green methanol facility in Maharashtra, part of a ₹1 trillion capex drive over the next few years.
Avaada, supported by Thailand's PTT group, announced a cumulative investment of about ₹1 trillion to build four low-carbon fuel facilities, beginning with a ₹20,000 crore green ammonia plant in Gopalpur, Odisha, and a similarly sized green methanol project near Nagpur, Maharashtra. Both projects are in the conceptual phase, with land allocation for the methanol plant still under discussion. The company is in talks with European buyers for long-term off-take agreements and is pursuing EU Renewable Fuels of Non-Biological Origin (RFNBO) certification for both outputs.
The green ammonia plant has already secured RFNBO certification for 85% of its fuel and is slated for commissioning around 2030. This manufacturing push precedes a proposed ₹7,600 crore initial public offering of Avaada Electro, the solar-module subsidiary, expected by year-end. Additionally, Avaada Ventures recently repaid a Brookfield Renewable debt valued at roughly ₹6,713 crore. Founder and chairman Vineet Mittal highlighted the firm's broader goal of reaching 30 GW of renewable capacity by 2030 and integrating solar, storage, and green molecules to serve India's expanding electricity demand.
Why it matters
The investment marks a major private push toward low-carbon fuels, bolstering India's renewable energy and industrial decarbonisation efforts.
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