Coal makes no sense in current climate: Avaada Group chairman

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

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

We have deployed almost 5 gigawatts (Gw) and our target for 2026 is 11 Gw. We