Avaada Group's Massive Investment in Rajasthan's Renewable Energy Sector
Key Ideas
- Avaada Group plans to invest over INR 1 lakh crore in Rajasthan for a variety of renewable energy projects including pumped storage, green hydrogen, green ammonia, wind, and solar power.
- The company highlights Rajasthan's role in renewable energy and the support from Prime Minister Narendra Modi and Chief Minister Bhajanlal Sharma in creating an enabling environment.
- Rajasthan aims to achieve 125 GW of renewable power capacity by 2030, with Avaada Group leading the way with their ambitious plans.
- Avaada Energy, the group's renewable power generation arm, targets a capacity of 11 GWp by 2026 and has attracted substantial international investments to support its growth.
Avaada Group has unveiled plans to invest significantly in Rajasthan's renewable energy sector, totaling over INR 1 lakh crore. This investment will cover a wide range of projects including a 1.2 GW pumped storage initiative, green hydrogen, green ammonia, wind, and solar power projects across various regions in Rajasthan. At the Rising Rajasthan 2024 Summit, Avaada Group Chairman Vineet Mittal praised Rajasthan's progress in renewable energy and acknowledged the support from Prime Minister Narendra Modi and Chief Minister Bhajanlal Sharma. Rajasthan's solar potential, with clear sunny days exceeding 325 annually, positions the state as a key player in the renewable energy landscape. Avaada Group's entry into Rajasthan began with a 150 MW solar project and has since expanded to a massive 10 GW energy project, including the world's largest 1.25 GW solar power plant in Bikaner. With a target to achieve 125 GW of renewable power capacity by 2030, Rajasthan's renewable energy ambitions align closely with Avaada Group's vision. The group's renewable power generation arm, Avaada Energy, aims to reach a capacity of 11 GWp by 2026, supported by significant international investments. This commitment underscores the group's dedication to driving green manufacturing, job creation, and sustainable development in Rajasthan.