Avaada raises USD1 billion from Brookfield Renewable

Avaada Group has raised USD1.07 billion from Brookfield Renewable to fund its green hydrogen and green ammonia business in the country as a part of its ongoing USD1.3 billion fundraising plan.

Brookfield Renewable, through its Brookfield Global Transition Fund, will be investing up to USD1 billion in Avaada Energy, a subsidairy of Avaada Group. In additiom, Global Power Synergy Public Company will invest USD68 million in Avaada Energy for releasing debt obligations and supporting the growth. Avaada Group is also in advanced discussions with potential investors to raise another USD200 million.