Avaada Group has announced investments of over INR 1 lakh crore in Rajasthan’s renewable energy sector at the Rising Rajasthan 2024 Summit. The company will set up a 1.2 GW pumped storage project with an INR 5,800 crore investment, and also invest across green hydrogen, green ammonia, wind and solar projects spanning Jhalawar, Kota, Barmer, and Bikaner.
Speaking at the summit, Avaada Group Chairman Vineet Mittal emphasized Rajasthan’s leadership in renewable energy and credited the visionary leadership of the Prime Minister Narendra Modi and Chief Minister Bhajanlal Sharma for creating an enabling environment. “Rajasthan’s sands, touched by the Sun God, are now fueling India’s green revolution. Thanks to the inspirational leadership of the Hon’ble Prime Minister and Chief Minister, Avaada is committed to investing INR 1 lakh crore in transforming this state into the world’s largest renewable energy hub. This investment will not only drive green manufacturing but also create millions of jobs, empowering lives across Rajasthan,” Mittal remarked.
Rajasthan leads India in installed solar capacity (24.2 GW as of Oct. 2024) and has a solar power generation potential of over 142 GW with 325+ clear sunny days annually. The state targets 125 GW renewable power capacity by 2030, including 90 GW from solar and 25 GW from wind and hybrid projects.
Avaada Group entered Rajasthan with its first 150 MW solar project and scaled up to the world’s largest 10 GW energy project. It has commissioned the world’s largest solar power plant with a capacity of 1.25 GW at a single location in Bikaner.
Avaada Energy, Avaada group’s renewable power generation arm, aims to achieve a capacity of 11 GWp by 2026. The group’s strong execution capabilities have attracted substantial international investment, including a $1.3 billion commitment in early 2023, with $1 billion from Brookfield’s Energy Transition Fund and $300 million from GPSC, a subsidiary of Thailand’s PTT Group.
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