Coal doesn't make sense in today's environment: Avaada group chairman

Mittal has raised $2.6 billion since 2023 from Canadian fund Brookfield and Thailand's state-run oil company PTT group, enabling him to participate and win several bids this year

Avaada group Chairman Vineet Mittal, who heads one of India’s fastest-growing renewables companies, shares his plans with S Dinakar and throws light on how the sector can accelerate installations to meet the target of 500 Gw by 2030. Mittal, 49, a Harvard Business School alumnus, has raised $2.6 billion since 2023 from Canadian fund Brookfield and Thailand’s state-run oil company PTT group, enabling him to participate and win several bids this year. Edited excerpts.

Can you give us an update on Avaada’s business?

We have operationalised almost 5 gigawatts (Gw), and our target by 2026 is 11 Gw. We