Avaada Group Secures $2 Billion Funding for National Energy Transition
Mumbai-based Avaada Group has secured $2 billion in funding from REC (Rural Electrification Corporation) for its national energy transition projects. The significant funding will be channelled into establishing a series of renewable energy projects across India. Avaada plans to focus on green hydrogen, solar photovoltaic cell manufacturing, and various solar, wind, and hybrid ventures. This financing marks the company's second major investment, following a $1 billion commitment from Brookfield Renewable and an additional $300 million from GPSC, Thailand's PTT group subsidiary. The agreement was formalized during the G20 Energy Transition Working Group's 4th meeting in Goa.
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02-2026
