Avaada Group has announced a $12bn investment in Rajasthan, India, to drive green energy transition and establish the region as a global renewable energy leader.
This announcement was made at the Rising Rajasthan 2024 Summit, attended by India’s Prime Minister Narendra Modi and Rajasthan’s Chief Minister Bhajanlal Sharma. Avaada Group’s Chairman Vineet Mittal highlighted Rajasthan’s vast solar and wind resources, emphasizing the state’s potential to redefine the global renewable energy landscape.
The investment will focus on green industrial manufacturing and creating millions of jobs, contributing to a sustainable and inclusive future. Rajasthan, with 142 GW of solar potential and 325+ sunny days annually, has become a global hub for renewable energy, supported by pro-business policies like the Rajasthan Investment Promotion Scheme 2024 and the Integrated Clean Energy Policy 2024, which have already attracted $78bn in investments.
Avaada Group’s investments include a $700 million 1,200 MW Pumped Storage Project, green hydrogen and ammonia projects, and utility-scale solar and wind projects across Jhalawar, Kota, Barmer, and Bikaner.
These initiatives aim to advance India’s renewable energy targets while aligning with international sustainability frameworks like the EU’s CBAM. Avaada’s efforts will create over 1 million green jobs and position Rajasthan as a destination for sustainable industries.
Avaada Group, a leader in the energy transition, specializes in solar module manufacturing, renewable power generation, and green fuel projects, with a target of 11 GWp renewable capacity by 2026. The group’s strong execution capabilities have attracted significant international investment, including $1.3 billion in early 2023.