Avaada to invest $2.4bn in green hydrogen and renewables in India over five years
Avaada to invest $2.4bn in green hydrogen and renewables in India over five years | Windpower Monthly
Avaada said its foray into the green hydrogen and green ammonia sector is intended to serve both the domestic and international markets.
Earlier this year, the group announced the successful closure of a $1.3 billion funding round, which will be used to bolster Avaada's green hydrogen, green methanol, green ammonia, solar manufacturing and renewable power generation ventures.
The REC agreement is one of several strategic alliances signed by Avaada Group.
The company said it is evolving into a ‘sand-to-green-molecule’ enterprise, with business interests ranging from manufacturing electrolysers, to renewable power generation, as well as green hydrogen and green ammonia production.
Avaada’s renewable energy subsidiary, Avaada Energy, has developed a 4GW portfolio across India and plans to reach 11GW by 2026 and 30GW by 2030.
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