Avaada commits USD 12bn to power Rajasthan’s renewables push
India’s Avaada Group announced a commitment to invest USD 12 billion (EUR 11.5bn) by 2030 to advance the green energy transition in Rajasthan and position the northwestern state as "a global renewable energy powerhouse".The investment will fund several initiatives, including a 1,200-MW pumped-storage project; green hydrogen and ammonia; and utility-scale solar and wind power sites to be deployed across Jhalawar, Kota, Barmer and Bikaner.The multi-billion-dollar commitment was unveiled at the Rising Rajasthan 2024 Summit.In a press statement, Avaada highlighted Rajasthan’s unmatched solar potential of over 142 GW and the state’s success in attracting USD 78 billion in investments thanks to its pro-business policies such as the Rajasthan Investment Promotion Scheme 2024 and the Integrated Clean Energy Policy 2024.“Rajasthan's vast solar and wind resources, coupled with the visionary leadership of the Hon'ble Prime Minister and Chief Minister, present an unparalleled opportunity to redefine the global renewable energy landscape. Avaada's commitment of USD 12 billion while driving green industrial manufacturing will also create millions of jobs, shaping a sustainable and inclusive future,” said Avaada’s chairman Vineet Mittal.Avaada entered Rajasthan’s renewable energy sector with a 150-MW solar project.(USD 1 = EUR 0.962)
India’s Avaada Group announced a commitment to invest USD 12 billion (EUR 11.5bn) by 2030 to advance the green energy transition in Rajasthan and position the northwestern state as "a global renewable energy powerhouse".
The investment will fund several initiatives, including a 1,200-MW pumped-storage project; green hydrogen and ammonia; and utility-scale solar and wind power sites to be deployed across Jhalawar, Kota, Barmer and Bikaner.
The multi-billion-dollar commitment was unveiled at the Rising Rajasthan 2024 Summit.
In a press statement, Avaada highlighted Rajasthan’s unmatched solar potential of over 142 GW and the state’s success in attracting USD 78 billion in investments thanks to its pro-business policies such as the Rajasthan Investment Promotion Scheme 2024 and the Integrated Clean Energy Policy 2024.
“Rajasthan's vast solar and wind resources, coupled with the visionary leadership of the Hon'ble Prime Minister and Chief Minister, present an unparalleled opportunity to redefine the global renewable energy landscape. Avaada's commitment of USD 12 billion while driving green industrial manufacturing will also create millions of jobs, shaping a sustainable and inclusive future,” said Avaada’s chairman Vineet Mittal.
Avaada entered Rajasthan’s renewable energy sector with a 150-MW solar project.
(USD 1 = EUR 0.962)
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