Founded by the social entrepreneur Vineet Mittal in 2007, the Mumbai-based Avaada Group had a turnover of around Rs 4,000 crore in the last financial year.
The project is slated to generate around 1,500 direct and 4,000 indirect job opportunities with an aim to curtail annual carbon dioxide emissions by nearly two million tonnes.
Bharti Airtel acquired a stake in Avaada to comply with regulatory requirements for captive power plants under the provisions of Electricity Act 2003 and Indian Electricity Rules 2005.
