Avaada to Invest INR 1,00,000 Cr in Rajasthan to Lead India’s Green Energy Transition – Asia Pacific

With the focus on large-scale solar, wind, and green ammonia projects, Avaada is committed to transforming Rajasthan’s vast arid land into a hub of clean energy, fostering economic growth and sustainable development.

October 01, 2024. By News Bureau

Avaada Group has unveiled its ambitious plan to invest INR 1,00,000 crore in Rajasthan, further propelling the state into the forefront of India’s renewable energy revolution. With the focus on large-scale solar, wind, and green ammonia projects, Avaada is committed to transforming Rajasthan’s vast arid land into a hub of clean energy, fostering economic growth and sustainable development.

In a significant step forward, Avaada Group is proud to announce the signing of a Memorandum of Understanding (MoU) with the Government of India in the presence of Bhajan Lal Sharma, Hon’ble Chief Minister of Rajasthan, and Col. Rajyavardhan Rathore, Industries and Commerce Minister, Rajasthan. This MoU signifies a joint commitment to accelerate Rajasthan’s green energy initiatives and enhance the state’s renewable energy infrastructure.

“Our government remains committed to fostering an industry-friendly environment, advancing infrastructure, and encouraging innovation. By focusing on these key areas, we are dedicated to positioning Rajasthan as the leading investment destination in India.” says Bhajanlal Sharma, Hon’ble Chief Minister of Rajasthan.

The planned investment will fund major green energy initiatives, including a 1.2 GW-Pumped Hydro Storage Project, a 1 MTPA-Green Ammonia Project, a 1 GW-Wind Power Project, and a 10 GW-Solar Power Project. These projects, located across Jhalawar, Kota, Barmer, and Bikaner, will generate massive employment opportunities, promote green manufacturing, and significantly boost Rajasthan’s contribution to India’s renewable energy targets.

Speaking on this milestone, Vineet Mittal, Chairman of Avaada Group, shared his vision: “Rajasthan has always been central to our vision at Avaada Group, from our 5.5 MW project in Jodhpur to the launch of the world’s largest single-site solar project of 1,250 MW in Bikaner. Today, we are proud to announce a 6 GW solar project, with LOA, PPA, and connectivity in place. With its vast renewable potential, Rajasthan is set to become a green energy hub and a major contributor to India’s sustainable future. We would like to extend our heartfelt thanks to the government for their unwavering support and commitment to renewable energy development.”

Avaada’s INR 1,00,000 crore investment represents a significant leap toward supporting India’s 500 GW renewable energy target by 2030 and the country’s ambition of achieving net-zero emissions by 2070. Mr. Mittal reflected on the group’s early efforts in Rajasthan, beginning with its pioneering solar projects in Jodhpur, where doubts were initially raised about the success of solar power. However, Avaada’s vision has been realized with multiple large-scale projects that have solidified Rajasthan’s position as a renewable energy hub.

He also emphasized Rajasthan’s unique advantages, with its vast desert lands, strategic location, and abundant natural resources, which make it ideal for large-scale renewable energy projects. 

The solar, wind, and green ammonia projects are expected to be fully operational by 2030, transforming Rajasthan into a major green energy hub for India and the world. Avaada’s green energy initiatives will also enable the state to attract global investments in industries such as green hydrogen, zinc, and lithium, positioning Rajasthan at the center of the global green economy. With the world transitioning toward low-carbon economies and the introduction of carbon taxes, Rajasthan is well-positioned to supply green products and renewable energy to international markets.

“Rajasthan’s arid land will no longer be seen as a liability, but as an asset that will power India’s green revolution,” Mittal concluded.

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