Avaada Group and REC Limited have signed a memorandum of understanding for an investment of around $2.44 billion to fund its multiple projects over the next five years.
Avaada will utilise the REC investment to spearhead a plethora of renewable energy projects across India in the next five years. These ventures include green hydrogen and its derivatives, solar photovoltaic (PV) manufacturing, and an assortment of solar, wind, and hybrid projects.