Avaada Group has captured $1.07 billion to fund its green hydrogen and green ammonia ventures in India as a part of its ongoing $1.3 billion fundraise.
Brookfield Renewable will invest up to $1 billion in Avaada Ventures via its Brookfield Global Transition Fund, which focuses on investments that accelerate the progress to a net-zero carbon economy.
Avaada said Global Power Synergy Public Co. will further invest $68 million in Avaada Energy for releasing debt obligations and supporting the growth. Avaada is also in advanced talks with potential investors to raise $200 million more.
Avaada has diversified into manufacturing of green hydrogen and green ammonia, and also has expanded its footprint into the solar PV supply chain. The company operates a renewable energy portfolio of 4 gigawatts and has plans to reach 11 gigawatts by 2026.