Statement

Brookfield Renewable

26/04/2023 10:20

NEW DELHI, April 26 (Reuters) - Avaada Group on
Wednesday said it raised $1.07 billion to fund its green
hydrogen and green ammonia ventures in India. 
    Brookfield Renewable  BEPC.N , through Brookfield Global
Transition Fund (BGTF), will invest upto $1 billion in Avaada
Ventures Private Ltd, the company said in a statement. 
    Global Power Synergy Public Company Ltd, will invest $68
million in Avaada Energy Private Ltd to cut debt and support
growth. The Avaada Group is also in advanced discussions with
potential investors to raise another $200 million, it said. 
    Avaada currently operates a renewable energy portfolio of 4
gigawatt (GW) with plans to reach 11 GW by 2026. 

 (Reporting by Sarita Chaganti Singh, Editing by Louise Heavens)
 ((Sarita.ChagantiSingh@thomsonreuters.com;))