Avaada Group has announced plans to invest Rs 1 lakh crore in green energy projects across Rajasthan, focusing on large-scale solar, wind, and green ammonia developments. The company signed a Memorandum of Understanding (MoU) with the Rajasthan government, committing to boost the state’s renewable energy infrastructure.
The investment will fund key initiatives, including a 1.2 GW pumped hydro storage project, a 1 million tonne per annum (MTPA) green ammonia project, a 1 GW wind power project, and a 10 GW solar power project. These projects will be located in Jhalawar, Kota, Barmer, and Bikaner, creating significant employment and advancing green manufacturing in the state.
Vineet Mittal, Chairman of Avaada Group, highlighted Rajasthan’s pivotal role in their vision, noting the state’s renewable potential and its role in India’s sustainable future. The company’s new 6 GW solar project, with agreements and connectivity in place, further strengthens its commitment.
Avaada’s investments align with India’s goals of achieving 500 GW of renewable energy capacity by 2030 and net zero emissions by 2070. Rajasthan Chief Minister Bhajanlal Sharma emphasized the state’s strategic advantages for renewable energy and its position as a leading investment destination.
These initiatives will be fully operational by 2030, helping Rajasthan attract global investments in sectors like green hydrogen and positioning it as a key player in the global green economy. Avaada’s funding includes $1.3 billion secured in early 2023 from Brookfield’s Energy Transition Fund and GPSC, a subsidiary of Thailand’s PTT Group.
Avaada Group is leading the global shift towards sustainable energy, specializing in solar module production, renewable power generation, and the development of green hydrogen, green methanol, green ammonia, and sustainable aviation fuel projects.
Led by Vineet Mittal, Avaada has positioned itself as a prominent player in the global energy sector. Through Avaada Energy, its renewable power arm, the group plans to reach an installed capacity of 11 GWp by 2026.
Avaada’s strong execution and proven success have attracted substantial international investments, including a US $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.
