Vineet Mittal, Founder and Chairman of Avaada Group, revealed at the Abu Dhabi International Petroleum Exhibition and Conference that India aims to establish a fully integrated solar equipment manufacturing ecosystem within the next four to five years. This ambitious goal contrasts with the 20-plus years other countries have taken to develop similar infrastructures. Currently, India’s solar sector faces challenges due to its reliance on imports for key components, slowing growth. However, Mittal expressed confidence that this situation will soon change as the country works towards a self-sustained solar supply chain. He also highlighted Avaada Group’s plan to build a manufacturing campus where solar panels will be produced from scratch, which he views as a significant shift for India’s renewable energy sector.
Mittal also highlighted the potential of e-methanol in the transportation sector, especially for heavy transport, and green ammonia for fertilizers, which is already being utilized in India’s Northeast. He called on the government to create policies that support the use of green fuels, including the establishment of a carbon market. He also advocated for long-term government support, such as mandates and off-take contracts, to fuel the growth of the hydrogen energy sector. In line with India’s renewable energy goals, Avaada Group plans to develop 30 gigawatts of solar and wind energy, alongside five gigawatt-hours of battery storage and 10 gigawatt-hours of pumped hydro storage, contributing to the country’s target of 500 gigawatts of renewable energy by 2030.
