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Telecom operator Bharti Airtel has acquired an 8.53 per cent stake in special purpose vehicle Avaada MH Buldhana to source 21.32 MWdc of solar power from the project under the group-captive arrangement and thereby reduce its carbon footprint.
Bharti Airtel to acquire 5.2% stake in Avaada MHBuldhana for ₹4.55 cr
"It is good to see that leading corporates are switching from fossil fuel-based energy to clean energy solutions; we are working with some of the leading MNCs who have committed to switching to 100 per cent renewables,” Vineet Mittal, Chairman of renewable energy developer Avaada, said in a statement.
Airtel acquires 355.45 MHz spectrum for ₹18,699 crore
Avaada targets an extensive portfolio of 10GW solar projects across Asia and Africa. The firm has executed over 2GW of renewable capacities, and nearly 3.5GW is under implementation in India, the statement added.
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