India’s Avaada Group signed a Memorandum of Understanding (MoU) with the Department of Industries and Commerce, Government of Rajasthan to set up a green ammonia facility with a production capacity of 1 million tons per annum and a renewable energy power plant in Kota, Rajasthan.

The MoU, signed as part of the investment promotion strategy for the Investment Rajasthan Summit held in New Delhi, proposes an investment of Rs 40,000 crore (US$5 billion) while also providing direct employment opportunities to about 3,500 people and indirect jobs to more than 10,500 people.

For industries that require high-temperature heat, such as foundries and glass and steelmakers, this could be ground-breaking as it will not only replace fossil fuels with renewable sources but also produce green ammonia and a substitute for gas.

—Vineet Mittal, Chair, Avaada Group

Avaada Group is an integrated energy platform with business interests ranging from manufacturing solar cells, modules and electrolysers to renewable power generation, green hydrogen, and green ammonia production. Avaada Group’s flagship company Avaada Energy is India’s fastest-growing renewable energy IPP. The firm plans to reach 11 GW by 2025 and 30 GW by 2030.