News from Selected Alternatives fund
In the winds of Rajasthan, the power reserve of the future is emerging
Dust swirls through the air above the golden dunes of the Thar Desert, and temperatures approach 50 degrees Celsius. Here, in India’s largest state, Rajasthan, a region challenged by fragile infrastructure, low literacy rates, and limited resources one of the country’s most ambitious energy ventures is taking shape.
Amid the hills of the Sirohi district, where the Aravalli mountain range cuts through the landscape, Avaada Group is developing a vast energy storage project – a so-called “water battery.” The project, known as the Kadambari Pumped Storage Project, will provide 1,200 MW of capacity and become a key component in both Rajasthan’s and India’s green transition
Why here and why now?
Rajasthan is not only known for its palaces and deserts, but also for its vast solar potential. The state ranks first in India in installed renewable energy capacity, with 29.98 GW. Avaada is already well-established in the region, having developed large-scale solar and wind farms. But to fully unlock the power of green energy, investment in storage is essential and that is where the Kadambari Pumped Storage Project comes in.
With an investment of EUR 616 million (equivalent to approx. DKK 4.6 billion) over the next 5–7 years, the Kadambari project aims to ensure that Rajasthan and ultimately India has reliable power, even during peak demand periods. Not just in the middle of the day when the sun is shining, but also in the evening, when millions of families turn on their lights, prepare dinner, and start their fans to escape the heat.
How a water battery works and why it matters
The principle behind a water battery is both simple and innovative. When the sun is shining and producing more energy than the grid can absorb, the excess electricity is used to pump water to an elevated reservoir. Later, when electricity demand peaks in the early evening hours and electricity prices are high, the water is released back down through turbines to a lower reservoir. Along the way, electricity is generated, helping to stabilize the grid. The system can then be recharged using surplus solar power—energy that would otherwise place a strain on the grid. In essence, it works like a battery cell but powered by water and gravity instead of lithium and chemicals.
It is precisely this flexibility that makes water batteries indispensable in a world where renewable energy production fluctuates with the weather. In Rajasthan, where both sun and wind are abundant but unpredictable, Avaada’s water battery can serve as a stabilizing force within the region’s green infrastructure.
A project that makes a difference
With the Kadambari water battery, Avaada is not only powering the future, but they are also setting a new benchmark for how green energy can be approached holistically. Through the Selected Alternatives Fund’s investment in Brookfield Transition Fund I, you as an investor are part of this journey.
This is a project that goes beyond turbines and reservoirs. It is about building a green energy system that is truly integrated—a project that creates jobs, drives economic growth, and strengthens the broader green transition.
Selected Alternatives fund and Avaada
As an investor in the Selected Alternatives Fund, you are indirectly a co-investor in Avaada Group – one of India’s leading players in renewable energy.
Through the fund’s investment in the Brookfield Global Transition Fund I, you gain exposure to projects such as the Kadambari Pumped Storage Project an ambitious water battery located in the state of Rajasthan.
