Avaada receives $1bn from Brookfield for Indian green hydrogen and ammonia
The developer is in advanced discussions with potential investors toward an additional $200mn
Indian renewable energy company Avaada has secured $1bn in investment from clean energy investor Brookfield Renewable and $68mn from Thai power company Global Power Synergy Public Company towards its green hydrogen and ammonia ventures. The firm plans to raise $1.3bn and claims to be in “advanced discussions” with potential investors on securing an additional $200mn. Avaada operates 4GW of renewable energy—primarily utility solar—with plans to expand to 11GW by 2026. Last year, the firm signed a memorandum of understanding with the state government of Rajasthan to develop a INR400mn ($4.89mn) green ammonia plant. $1.3bn – Target fundraise “We are pleased to be investing in Avaada thr
Also in this section
22 March 2024
German energy firm and Canada-based Pattern Energy aim to ship green ammonia to Hamburg in latest move to secure imports to Europe’s largest economy
22 March 2024
French company prepares for commercial launch of underground storage system to be deployed at green hydrogen production and consumption sites
21 March 2024
Region has competitive edge in low-carbon hydrogen, but infrastructure and export challenges are key roadblocks to overcome
18 March 2024
Major Indian companies are venturing into the sector thanks to government support, but cost and incentive questions persist