Avaada commits $12bn for Rajasthan’s green hydrogen, ammonia & other RE

Mumbai headquartered Avaada Group has announced an unprecedented investment of $12 billion in Rajasthan for accelerating green energy transition especially in green hydrogen & green ammonia, thereby establishing the region as a global renewable energy powerhouse. The announcement was made during the prestigious Rising Rajasthan 2024 Summit, that was attended by  Prime Minister Narendra Modi and Rajasthan Chief Minister Bhajanlal Sharma.

Avaada Group’s Chairman Vineet Mittal, stated on the development, “Rajasthan’s vast solar and wind resources, coupled with the visionary leadership of the Hon’ble Prime Minister and Chief Minister, present an unparalleled opportunity to redefine the global renewable energy landscape. Avaada’s commitment of $12bn while driving green industrial manufacturing will also create millions of jobs, shaping a sustainable and inclusive future.”

Avaada Group’s journey in Rajasthan began with a modest 150 MW solar project and has since evolved into multiple ventures, including one of the world’s largest single location renewable energy projects by an IPP. Key investments announced at the summit include:

• 1,200 MW Pumped Storage Project (PSP): A $700mn initiative to enhance energy storage and grid stability.
• Green Hydrogen and Ammonia Projects: Investments aimed at driving global decarbonization goals.
• Utility-Scale Solar and Wind Projects: Across Jhalawar, Kota, Barmer, and Bikaner, contributing significantly to India’s renewable energy targets.

 “As a global renewable energy leader, Avaada is proud to participate in Rajasthan’s vision of becoming a green hub of industrial growth,”  Mittal remarked. “Our investments aim to double the region’s economy by 2030, aligned with global efforts to combat climate change.”

With its strategic initiatives, Avaada Group says that it is poised to attract international collaborations, setting a benchmark for renewable energy innovation and sustainable industrial development.