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Staff Reporter

, India

Published:

1 year ago

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Source: Avaada Energy (PR Newswire)

Avaada Group secures $1b for green hydrogen, ammonia development

The investment came from Brookfield Renewable.

Avaada Group has raised $1.07b to be used for its green hydrogen and green ammonia ventures in India, with Brookfield Renewable investing up to $1b in Avaada Ventures Private Limited.

In a statement, Avaada Group said the amount raised is part of its $1.3b fundraising plan.

Brookfield Renewable is investing in the company through its Brookfield Global Transition Fund.

Avaada added that Global Power Synergy Public Limited will also be investing $68m in Avaada Energy Private Limited for releasing debt obligations and its growth.

It is also in “advanced discussions” with other potential investors for $200m.

Avaada’s renewable portfolio is at around four gigawatts (GW) and is targeted to reach 11 GW by 2026.

Follow the links for more news on

Avaada Energy

Asia's Renewable Energy Transition

India renewables capacity

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