Avaada Group has solidified its position in Rajasthan’s renewable energy landscape by signing a Memorandum of Understanding (MoU) with the Government of Rajasthan. The agreement, signed between Avaada Aqua Batteries Pvt Ltd, a subsidiary of the Avaada Group, and the state’s Energy Department, sets the stage for developing a 1,200 MW Pumped Storage Project (PSP) in the Sirohi district.
The MoU, part of Avaada’s significant investment plans, was signed in the presence of Rajasthan’s Chief Minister, Bhajan Lal Sharma, along with other dignitaries. With a planned investment of Rs 5,800 crore over the next 5-7 years, the project aims to enhance Rajasthan’s energy security and advance its sustainability goals.
This initiative complements Avaada’s previously announced Rs 1 lakh crore investment in Rajasthan, encompassing:
1 MTPA Green Ammonia Project
1 GW Wind Power Projects
10 GW Solar Power Projects
These projects span key districts like Jhalawar, Kota, Barmer, and Bikaner, driving Rajasthan’s renewable energy leadership, generating employment, boosting green manufacturing, and contributing to India’s trillion-dollar green economy ambitions.
Vineet Mittal, Chairman, Avaada Group, emphasized the significance of the initiative:
“This MOU represents a monumental step forward in our mission to deliver cutting-edge renewable energy solutions. Our pumped storage project will not only provide Round the Clock (RTC) renewable power but also enhance grid stability by integrating more solar and wind energy. This is part of our broader commitment to Rajasthan, where we are actively pursuing solar, wind hybrid, and other innovative projects to meet the state’s growing energy needs and reduce its carbon footprint.”
Rajasthan, already ranked second in India with an installed renewable energy capacity of 28,617 MW, continues to set benchmarks in sustainable energy. The state’s abundant resources and strategic policies have made it a cornerstone of India’s renewable revolution.
Speaking on the collaboration, Rajasthan’s Chief Minister, Bhajan Lal Sharma, remarked:
“These investment initiatives not only address the rising energy demands but also pave the way for sustainable growth, employment creation, and economic resilience. This partnership marks a significant milestone in realizing Rajasthan’s clean energy potential.”
As renewables like solar and wind face intermittency issues, pumped storage projects (PSPs) offer a crucial solution by storing surplus energy during the day and releasing it during peak demand or nighttime. Avaada’s Kadambari PSP will ensure a steady power supply, furthering India’s ambition to integrate 500 GW of renewable energy into the grid.