Avaada to invest $5 billion in green hydrogen, ammonia plant with 6 GW captive renewables in Rajasthan
Ravi Verma, senior executive vice president at Avaada, told pv magazine that the Group would invest $5 billion into setting up an integrated green hydrogen and ammonia plant with 6 GW of captive renewable energy capacity in the state. The green ammonia facility will have a production capacity of 1 million tons per annum.
Avaada Group will invest around $5 billion (INR 40,000 crore) to build an integrated green hydrogen and ammonia plant with captive renewable energy capacity in Rajasthan. The company recently signed a Memorandum of Understanding with the government of Rajasthan on the proposed investment.
Ravi Verma, senior executive vice president, strategic affairs & policy advocacy, Avaada Group, told pv magazine that Avaada would set up around 6 GW of renewable energy capacity for captive consumption by its green hydrogen and ammonia site. The renewables capacity will come up at different locations in Rajasthan.
The green ammonia plant will have a production capacity of 1 million tons per annum. It is planned to be located in the Kota district.
Avaada expects its green ammonia investment in Rajasthan to provide direct employment opportunities to about 3,500 people and indirect jobs to over 10,500 people.
Avaada Group is an integrated energy platform with business interests ranging from manufacturing solar cells, modules, and electrolyzers to renewable power generation, green hydrogen, and green ammonia production.
Avaada has developed an impressive portfolio within five years, and the firm plans to reach 11 GW by 2025 and 30 GW by 2030. It has a state-of-the-art manufacturing facility with an annual capacity of 5 GW for cells and modules. The capacities are expected to start commercial production by early next year. Avaada Group plans to scale its PV manufacturing to 10 GW by 2030, with backward integration into polysilicon, ingots, and wafers.