India Solar PV News Snippets: Avaada Electro Seeking Up To INR 10,000 Crore Via IPO & More
Avaada Electro Receives SEBI Nod for IPO
Avaada Electro, the solar PV manufacturing arm of Brookfield-backed Avaada Group, is gearing up to go public with the Securities and Exchange Board of India (SEBI) approving its request to launch an initial public offering (IPO).
The company plans to launch an IPO totaling INR 9,000 to INR 10,000 crore, for which it had filed a confidential Draft Red Herring Prospectus (DRHP) in October 2025. This route enables companies to keep their offer documents private until they file the Red Herring Prospectus (RHP) before the actual IPO opens.
Avaada Electro currently operates an 8.5 GW solar module production line and plans to add 5.1 GW by FY2027. It also aims to bring online 6 GW solar cell production capacity by FY2026, and another 6 GW by FY2027. This will expand its total solar PV manufacturing capacity to 13.6 GW and 12.0 GW by the end of FY2027, respectively.
In an exclusive interview with TaiyangNews Managing Director Michael Schmela at REI 2025, Avaada Group Chairman Vineet Mittal said the company is also building a 1,200-ton-per-day solar glass facility while also accelerating work for an ingot-wafer-cell-module production line (see TaiyangNews Leadership Talks: Avaada Group At REI 2025).
In January 2025, Avaada Electro’s parent company, Avaada Group, raised INR 8,500 crore to finance/refinance 9 projects across solar energy and green module manufacturing businesses (see Avaada Raises INR 8,500 Crore For Solar & Module Projects).
Kosol Energie Commissions 142 MW Solar PV Capacity in Gujarat
Kosol Energie, the Indian solar PV manufacturer and EPC service provider, recently completed a 142 MW utility-scale solar PV project for Coal India Limited (CIL). It claims this project was stalled due to a number of challenges, including unresolved land acquisition issues and right-of-way constraints for transmission. The company says it navigated these challenges and executed the project in Banaskantha, Gujarat, within 9 months with a performance ratio of up to 90%.
Located in Bhadramali village, the project is expected to reduce around 4.77 million tons of carbon emissions over 25 years. It is equipped with 610 W monocrystalline TOPCon bifacial solar modules built with 144 solar cells produced by Kosol in-house. With a primary focus on large-scale solar projects, Kosol Energie is now also expanding into small-scale projects. Additionally, the company is entering the battery energy storage system (BESS) segment.
Juniper Green Energy Commissioning FDRE facility
Juniper Green Energy, a renewable energy power producer, says it has started commissioning what it terms as India’s 1st firm and dispatchable renewable energy (FDRE) project. It started commercial operations of the 259 MW solar component in March 2026 and began commercial operations for a 200 MWh BESS in April. The project also has 280 MW of wind capacity. This facility is located in Fatehgarh, Barmer district, Rajasthan.
The company has signed a power purchase agreement (PPA) with SJVN Limited, which will offtake the power generated to the Haryana Power Purchase Centre, to be supplied within Haryana. Juniper says the Ministry of Power has issued multiple FDRE tenders since 2023, with over 14 GW capacity tendered and around 10 GW under construction across various public agencies, including SJVN, NHPC, SECI, and NTPC.