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India-born Avaada Group Commits $12bn to Transform Rajasthan into a Global Renewable Energy Hub
Rajasthan stands out as a global hub for renewable energy, with over 142 GW of unmatched solar potential, supported by 325+ sunny days annually. The state's pro-business policies, including the Rajasthan Investment Promotion Scheme 2024 and the Integrated Clean Energy Policy 2024, have attracted investments worth $78bn .
Avaada Group's journey in Rajasthan began with a modest 150 MW solar project and has since evolved into multiple ventures, including one of the world's largest single location renewable energy projects by an IPP. Key investments announced at the summit include:
With its strategic alignment to international sustainability frameworks like the EU's Carbon Border Adjustment Mechanism (CBAM), Rajasthan offers a unique advantage for zero-carbon manufacturing and green industrial growth, positioning itself as a magnet for industries seeking sustainable operations while creating over 1mn green jobs.
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With its strategic initiatives, Avaada Group is poised to attract international collaborations, setting a benchmark for renewable energy innovation and sustainable industrial development.
Avaada Group is a leader in the global energy transition, specializing in solar module manufacturing, renewable power generation, and the development of green hydrogen, green methanol, green ammonia, and sustainable aviation fuel projects. Under the visionary leadership of Mr. Vineet Mittal , Avaada has become a significant global player in clean energy. Avaada Energy, the group's renewable power generation arm, aims to achieve a capacity of 11 GWp by 2026. The group's strong execution capabilities have attracted substantial international investment, including a $1 .3bn commitment in early 2023, with $1bn from Brookfield's Energy Transition Fund and $300mn from GPSC, a subsidiary of Thailand's PTT Group.
Kiren Srivastav
kiren.srivastav@avaada.com
Charu Sehgal
charu.sehgal@avaada.com
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