ISUW 2024 Speaker

Vineet Mittal is a serial entrepreneur who has built multiple large- scale businesses. After creating successful ventures in the BPO and IT space, he floated Welspun Energy in 2010, which became India's largest renewable energy company with an installed base of 1.2 GW. In 2016, the platform was monetized successfully with the sale to Tata Power at a US $ 1.4 bn valuation. Driven by his passion for sustainability and clean energy, Mr Mittal launched his second venture, Avaada Energy, in 2017. Over a period, the firm has diversified into multiple areas. Avaada Group, as it is now known, has become a leading integrated energy conglomerate in India, with interests across renewable power generation, solar module manufacturing, green hydrogen, and electrolyzer manufacturing. Avaada Energy, the flagship company of the Avaada Group, is India's fastest-growing renewable energy independent power producer. Within five years of operations, it has built an impressive portfolio and aims to achieve 11 GW of capacity by 2026 and 30 GW by 2030. The Avaada Group's solar manufacturing arm is executing a large- scale integrated facility under the PLI scheme launched by Govt. of India. Mr Mittal's commitment to energy transition led him to venture into the emerging area of Green Hydrogen and its derivatives. The group plans to add significant capacity in the next 5-7 years to cater to ever-increasing domestic and international demand. In mid-2021, Avaada attracted strategic investment from GPSC, a PTT Group of Thailand subsidiary, a renowned business conglomerate in the Oil and Gas industry. Recently, Avaada Group secured US $ 1.3 Billion in funding to power its growth. This includes a commitment of $1.0 billion from Brookfield, a leading Canadian global asset management investment fund, and 0.3 Billon from GPSC, which is the existing investor, reinforcing belief in Avaada's execution capability and proven track record. Mr Mittal, an alumnus of Harvard Business School, holds influential positions such as Co-Chair of the B20 Task Force on Energy, Climate Change and Resource Efficiency, Chairman of the CII sub-committee on Hydrogen usage and standards, Chair of the CII National Council on climate change, and Chair of the 'Make in India' Task Force. He has been recognized with accolades like "Solar Man of the Year" and actively contributes to organizations such as the World Business Council of Sustainable Development (WBCSD).