Magazine

Last edition
January-February 2025

Home › Business ›Avaada Group Procures USD 1 Billion Financing from Brookfield Renewables for Manufacturing of Green Hydrogen and Solar PV Modules

Avaada Group Procures USD 1 Billion Financing from Brookfield Renewables for Manufacturing of Green Hydrogen and Solar PV Modules

This strategic association will support Brookfield's global track record, approach to put capital and operational expertise besides Avaada's strong local footmark, to entitle their vision for the energy transition business.

April 27, 2023. By EI News Network

Avaada Group declared that it has procured USD 1.07 billion to finance its green hydrogen and green ammonia ventures in India as a part of its continuing USD 1.3 billion fund raise plan.

Brookfield Renewable, through its division Brookfield Global Transition Fund (BGTF) will be investing up to USD 1 billion in Avaada Ventures Private Limited.

Avaada Group is also in discussion progressed further with potential investors to procure another USD 200 million.

This strategic association will support Brookfield's global track record, approach to put capital and operational expertise besides Avaada's strong local footmark, to entitle their vision for the energy transition business.

Avaada Group was founded by Vineet Mittal in the year 2017 and headquartered in Mumbai, India.

The group is a consolidated energy platform with business deals ranging from manufacturing solar cells, modules and electrolysers to renewable power generation, green hydrogen, and green ammonia production.

Brookfield Renewable is one of the global investors in renewable power and climate transition assets, with notably estimated 24,000 megawatts of production capacity.

The firm basically function throughout five continents, managing a diverse operational profile of hydro, wind, solar, distributed energy and sustainable solutions.

Tags:

Sustainable energy solution