Avaada Group commits $12bn to transform Rajasthan into renewable energy hub

This landmark announcement was made during the prestigious Rising Rajasthan 2024 Summit, attended by India’s Prime Minister Narendra Modi and Rajasthan’s Hon’ble Chief Minister Bhajanlal Sharma. Rajasthan stands out as a global hub for renewable energy, with over 142 GW of unmatched solar potential, supported by 325+ sunny days annually. The state’s pro-business policies, including the Rajasthan Investment Promotion Scheme 2024 and the Integrated Clean Energy Policy 2024, have attracted investments worth $78bn.

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.

With its strategic alignment to international sustainability frameworks like the EU’s Carbon Border Adjustment Mechanism (CBAM), Rajasthan offers a unique advantage for zero-carbon manufacturing and green industrial growth, positioning itself as a magnet for industries seeking sustainable operations while creating over 1mn green jobs.

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