Avaada Group commits $12 billion to renewables, storage in Rajasthan

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Avaada Group, one of India’s leading renewable energy companies, has unveiled its ambitious plan to invest INR 1,00,000 crore in Rajasthan with the focus on large-scale solar, wind, and green ammonia projects.

The Group has signed a Memorandum of Understanding (MoU) with the Government of India in the presence of Bhajan Lal Sharma, Chief Minister of Rajasthan, and Col. Rajyavardhan Rathore, Industries and Commerce Minister, Rajasthan, for the proposed investment.

“Our government remains committed to fostering an industry-friendly environment, advancing infrastructure, and encouraging innovation. By focusing on these key areas, we are dedicated to positioning Rajasthan as the leading investment destination in India.” said Bhajanlal Sharma, chief minister of Rajasthan.

Avaada’s planned investment will fund its major green energy initiatives, including a 1.2 GW pumped hydro storage project, a 1 mtpa green ammonia project, a 1 GW wind power project, and a 10 GW solar power project. These projects will be located across Jhalawar, Kota, Barmer, and Bikaner.

Vineet Mittal, chairman of Avaada Group, said, “Rajasthan has always been central to our vision at Avaada Group, from our 5.5 MW project in Jodhpur to the launch of the world’s largest single-site solar project of 1,250 MW in Bikaner. Today, we are proud to announce a 6 GW solar project, with LOA, PPA, and connectivity in place. With its vast renewable potential, Rajasthan is set to become a green energy hub and a major contributor to India’s sustainable future.”

The solar, wind, and green ammonia projects are expected to be fully operational by 2030.

Avaada Energy, a renewable power generation arm of Avaada Group, aims to reach an installed capacity of 11 GWp by 2026. The group has attracted significant international investments, including a $1.3 billion funding commitment in early 2023, comprising $1 billion from Brookfield’s Energy Transition Fund and $300 million from GPSC, a subsidiary of Thailand’s PTT Group.

 

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