Avaada Group has entered into a Memorandum of Understanding (MoU) with the state government of Rajasthan to develop a 1.2 GW pumped storage project in the Sirohi district of Rajasthan. The MoU was signed between the Energy Department, Government of Rajasthan, and Avaada Aqua Batteries, an arm of Avaada Group.
The project will be developed with a total investment of around INR 5,800 crore over the next five to seven years.
This initiative complements Avaada’s previously announced investment of INR 1 lakh crore to develop a 1 mtpa green ammonia project, 1 GW wind power projects, and 10 GW solar power projects in the state. Spread across key districts such as Jhalawar, Kota, Barmer, and Bikaner, these ventures will collectively generate significant employment opportunities in Rajasthan.
Vineet Mittal, chairman of Avaada Group, said, “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 has 28,617 MW of installed renewable energy capacity. The intermittency of renewables like solar requires effective storage solutions. Pumped storage projects (PSPs) address this need by storing surplus solar energy during the day and releasing it during peak demand or nighttime, ensuring steady power supply.
Avaada Group has presence across solar module manufacturing, renewable power generation, and the development of green hydrogen, green methanol, green ammonia, and sustainable aviation fuel projects. Its renewable power generation arm Avaada Energy aims to achieve capacity of 11 GWp by 2026. The group’s strong execution capabilities have attracted substantial international investment, including a $1.3 billion commitment in early 2023, with $1 billion from Brookfield’s Energy Transition Fund and $300 million from GPSC, a subsidiary of Thailand’s PTT Group.
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