Avaada Group, a provider of green energy solutions, has announced plans to invest Rs 5,800 crore in the development of a 1200MW pumped hydropower storage project in Rajasthan. The group has signed a Memorandum of Understanding (MoU) for the project, which will involve the creation of the Kadambari Pumped Storage Project (PSP) in the Sirohi district.
With an estimated investment of Rs 5,800 crore over the next 5 to 7 years, this initiative is set to play a key role in strengthening Rajasthan’s energy security and promoting environmental sustainability. Rajasthan, with a renewable energy capacity of 28,617 MW, ranks second in India in terms of installed capacity.
Rajasthan Chief Minister Bhajan Lal Sharma commented, “These investments not only address the growing demand for energy but also lay the foundation for sustainable growth, job creation, and economic resilience, marking a major step in realizing the state’s clean energy potential.”
Vineet Mittal, Chairman of Avaada Group, stated, “Our pumped storage project will provide renewable energy round-the-clock while improving grid stability by integrating more solar and wind power.”
This new venture complements Avaada’s prior commitment of Rs 1 lakh crore in Rajasthan, which includes a 1 MTPA Green Ammonia Project, 1 GW Wind Power Projects, and 10 GW Solar Power Projects.
The company’s initiatives, spanning key districts like Jhalawar, Kota, Barmer, and Bikaner, are expected to generate substantial employment, boost green manufacturing, and contribute to Rajasthan’s role in India’s renewable energy targets and its journey toward becoming a trillion-dollar economy.
The MoU was signed between the Energy Department of the Government of Rajasthan and Avaada Aqua Batteries Pvt Ltd, a subsidiary of Avaada Group. The event was attended by Chief Minister Bhajan Lal Sharma and other distinguished officials.
Avaada Group is a leading Indian conglomerate focused on sustainable energy solutions, primarily specializing in renewable energy generation, storage, and distribution. With a strong presence in the solar power sector, the company is committed to driving India’s transition to a greener and more sustainable future.
Avaada has developed and operates several large-scale solar power projects across the country, contributing significantly to India’s renewable energy capacity. The group also has a diverse portfolio, including initiatives in energy storage, green hydrogen, and electric mobility. Avaada Group’s commitment to innovation, environmental responsibility, and clean energy positions it as a key player in India’s renewable energy landscape.
