Avaada Group raises $1 billion funding

Avaada Group announced that it has raised $1.07 billion to fund its green hydrogen and green ammonia ventures in India as a part of its ongoing $ 1.3 billion fundraise plan. Brookfield Renewable, through its Brookfield Global Transition Fund, will be investing up to $1 billion in Avaada Ventures Private Limited. Global Power Synergy Public Company Limited will further invest $ 68 million in Avaada Energy Private Limited for releasing debt obligations and supporting the growth. The company is also in advanced discussions with potential investors to raise another $ 200 million.