Avaada Group to Develop Rs. 5,800 Cr. Pumped Storage Project in Rajasthan
Avaada Group will invest Rs. 5,800 crore in the development of a 1,200 MW Pumped Storage Project (PSP) in Rajasthan. Avaada Aqua Batteries Pvt. Ltd., a subsidiary of Avaada Group, has signed a Memorandum of Understanding (MoU) with the Rajasthan government for this initiative.
This PSP, namely Kadambari Pumped Storage Project, is set to be developed over the next 5 to 7 years in Rajasthan’s Sirohi district. This project targets to enhance the state’s energy security by complementing its Renewable Energy (RE) projects. As of 13th November 2024, Rajasthan’s total installed RE generation capacity stood at 29.98 GW.
Commenting on this development, Mr. Vineet Mittal, Chairman of Avaada Group, said that their pumped storage project would not only provide Round-The-Clock (RTC) RE but also improve grid stability by integrating more solar and wind energy. He added, “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”.
Mr. Mittal was referring to Avaada’s Rs. 1 lakh crore investment in Rajasthan which the company announced in October 2024. This investment will be directed towards developing a Green Ammonia Project with a capacity of 1 million metric tonnes per annum (MMTPA), along with 10 GW of solar energy projects and 1 GW of wind energy projects in Rajasthan.
