Avaada Group mentioned it had raised $1.07 billion to fund its green hydrogen and green ammonia ventures in India as part of its ongoing $1.3-bn fund elevate plan. Brookfield Renewable, by means of its Brookfield Global Transition Fund (BGTF), might be investing up to $1 billion in Avaada Ventures Pvt. Ltd., Avaada Group mentioned in an announcement.
Global Power Synergy Public Company Ltd. will make investments $68 million in Avaada Energy for releasing debt obligations and supporting progress. The group can also be in superior discussions with potential traders to elevate one other $200 million, it mentioned.
Vineet Mittal, chairperson and founder, Avaada Group mentioned the group is constructing an built-in ‘sand to molecule’ enterprise aligned for the worldwide power transition in direction of decarbonisation. He mentioned the collaboration with Brookfield will help the group in pursuing thrilling alternatives.
Nawal Saini, Managing Director, Renewable Power & Transition, Brookfield added, “This strategic partnership will leverage Brookfield’s global track record, access to capital and operational expertise alongside Avaada’s strong local footprint, to enable their vision for the energy transition business.”
