Avaada Group, an integrated energy platform, has closed an INR 10,700 crore ($1.3 billion) funding round — the largest equity round ever raised by any green-energy company in Asia.
The funding will be used to bolster Avaada’s ventures for green hydrogen, green methanol, green ammonia, solar manufacturing and renewable-power generation, in line with India’s commitment to a sustainable future. This achievement underscores the effectiveness of government policies encouraging investment in green energy and the global transition toward sustainable-energy solutions.
Avaada Energy Private Ltd. (AEPL) has won several tenders, amounting to nearly 1.8 gigawatts, during the past three months from corporate customers and utilities. Brookfield Renewables previously committed to investing up to INR 8,225 crore ($1 billion) in AEPL, and Global Power Synergy Public Company (GPSC), a shareholder with a 42.93 percent equity holding in AEPL, has pledged to invest an additional INR
