India-based Avaada Group has signed a memorandum of understanding with the Bihar government to develop 1 GW of renewable energy capacity. The INR 5,000crore (~ $600 Million) investment was announced during the launch of Bihar’s new renewable energy and pumped storage policy. As per Avaada, the projects will include ground-mounted, floating, and community solar systems, along with battery energy storage. The agreement was signed in the presence of Energy Minister Bijendra Prasad Yadav and Industries Minister Nitish Mishra. The Bihar government has committed to providing land, water access, and assistance with approvals and clearances. According to Avaada, the initiative is expected to create approximately 500 direct jobs. Project execution will begin after power purchase agreements are signed with state agencies. Avaada has stated that production is likely to start within two years of PPA execution. The company will also be eligible for incentives under the state’s current renewable energy policy framework.