Avaada Group raises $1bn to fund green hydrogen and ammonia ventures in India

Avaada Group has raised $1.07bn to fund its Indian green hydrogen and ammonia ventures as part of its ongoing $1.3bn fundraising plan.

According to the group, Canadian-based Brookfield Renewable, through its Brookfield Global Transition Fund (BGTF) will invest up to $1bn in Avaada Venture Private Limited, while Thailand’s Global Power Synergy Public Company Limited will invest $68m in Avaada Energy Private Limited for releasing debt obligations and supporting growth.

Additionally, Avaada has said it is in “advanced discussions” with potential investors to raise another $200m.

The Group in August last year (2022) unveiled plans for a green ammonia facility in Kota, Rajasthan, India, which could boast a capacity of one million tonnes per year.

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