HomeInvestment & Trading ›Canadian Investor Brookfield funding USD 1 billion to Indian Firm Avaada

Canadian Investor Brookfield funding USD 1 billion to Indian Firm Avaada

The infusion will finance the group’s photo voltaic cell/module manufacturing and uninitiated ammonia plans and projects, moreover its renewable power generation potential.

March 13, 2023. By Nivedita Ojha

Canadian investor Brookfield is in prime dialogue to estimate about USD 1 billion through a set number of tranches in Avaada Ventures Pvt Ltd (AVPL), the parent entity of Avaada Group.

The infusion will finance the group’s photo voltaic cell/module manufacturing and uninitiated ammonia plans and projects, moreover its renewable power generation potential.

A predominant tranche of USD 400-500 million will possibly be put in place immediately.

Avaada group was formed by entrepreneur Vineet Mittal in 2017. Avaada Group has built a portfolio of above range of 4 GW of renewable (photo voltaic and wind) power underneath flagship Avaada Vitality Pvt Ltd.

Earlier Mittal was a co-promoter of Welspun Vitality, which availed its 1.2-GW renewable power potential to Tata Energy for INR 9,249 crore in 2016.

Brookfield’s prospects to place offering a huge for Avaada all along for renewable and power transition investments are profitable for importance for personal fairness buyers.

Brookfield is looking to multiply its current 4-GW renewable power generation profile three to 4 times in India in the coming decade, additionally aiding corporates decarbonise and fund into building a big-scale serving chain.
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