To be built over 10 acres of land at an estimated cost of Rs 500 crore, the academy will impart training to adventure sports enthusiasts in over 24 games including canoeing and kayaking, the Chief Minister said.
An initial amount of Rs 50 crore has already been sanctioned by the government to start work on the project.
He said a helipad too will be developed for the convenience of tourists near the lake and will be connected to Sahasradhara airstrip in Dehradun.