Avaada receives $1bn from Brookfield for Indian green hydrogen and ammonia

The developer is in advanced discussions with potential investors toward an additional $200mn

Indian renewable energy company Avaada has secured $1bn in investment from clean energy investor Brookfield Renewable and $68mn from Thai power company Global Power Synergy Public Company towards its green hydrogen and ammonia ventures. The firm plans to raise $1.3bn and claims to be in “advanced discussions” with potential investors on securing an additional $200mn. Avaada operates 4GW of renewable energy—primarily utility solar—with plans to expand to 11GW by 2026. Last year, the firm signed a memorandum of understanding with the state government of Rajasthan to develop a INR400mn ($4.89mn) green ammonia plant. $1.3bn – Target fundraise “We are pleased to be investing in Avaada thr