Avaada Group has signed a memorandum of understanding with the Haryana Enterprises Promotion Centre (HEPC), Government of Haryana, to develop a 300-acre zero-CBAM green industrial campus in Hisar, with a proposed investment of approximately Rs 10,000 crore.

The proposed campus, with the potential to generate over 5,000 employment opportunities, will be powered by round-the-clock renewable energy and is designed to support industries seeking to decarbonise their operations, strengthen energy security and enhance their readiness for global sustainability requirements, such as the European Union’s Carbon Border Adjustment Mechanism (CBAM), the company said in a statement.

Under the MoU, the Haryana government will facilitate the development of the proposed campus through appropriate industrial-park status, exploration of a customised package of incentives, common infrastructure, connectivity and utilities, and expedited requisite statutory approvals through the state’s single-window mechanism.

The partnership will also attract anchor investors, technology partners and industrial participants to the proposed campus, the company added.

It also said that, along with the state government, it will explore joint international investment roadshows across Germany, France, Italy, the Netherlands, Belgium, Japan and South Korea, among others.

“The development is expected to enable participating industries to reduce the carbon intensity of their operations and respond to growing demand for low-carbon products and supply chains in global markets,” the statement mentioned.

Avaada Group has operations across renewable power generation, solar PV manufacturing, green hydrogen and derivatives, battery storage, pumped hydro projects and green data centres.