Avaada Energy, the renewable arm of Avaada Group, has announced its strategic partnership with Al Jomaih Energy and Water (AEW) for renewable power projects in the Kingdom of Saudi Arabia and select other Middle Eastern regions.
The two companies signed a Memorandum of Understanding (MoU) to collaborate for exploring the vast potential of solar, wind, hybrid, and battery energy storage solutions in the region.
“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. Avaada will infuse the partnership with its extensive development experience and technical acumen,” stated Avaada Group.
“The collaboration extends to engineering, procurement, and construction (EPC) and operations & maintenance (O&M) services. Avaada will present its competitive EPC solutions and qualifications for collaborative O&M setups in Saudi Arabia.”
Avaada Group, headed by Vineet Mittal, is an integrated green energy platform with expertise across solar manufacturing, production of green hydrogen and its derivatives, green fuels, renewable power generation and electrolyzer manufacturing. Avaada Energy, its flagship entity, is a private-sector renewable power producer, 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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