Brookfield Asset Management is in talks over a a $1 billion investment in Avaada Ventures Pvt Ltd, the parent entity of Avaada Group, an Indian renewable energy company, according to a report in The Economic Times.
Brookfield Asset Management is in talks over a $1 billion investment in Avaada Ventures Pvt Ltd (AVPL), the parent entity of Avaada Group, an Indian renewable energy company, according to a report in The Economic Times.
According to unnamed Economic Times sources, the investment will be made in multiple tranches, with the first, worth $400-500 million, set to be announced in the coming weeks.
The new capital will be used to fund Avaada’s Group’s solar cell/module manufacturing and green ammonia projects, and clean energy generation capacity, said the sources.
According to its website, Avaada Group, which was founded in 2009, plans to generate 30 GW of installed renewable energy capacity, with a $20 billion asset base by 2030.
