Avaada, REC ink MoU for green hydrogen hub

Avaada Group has inked a memorandum of understanding (MoU) with state-run REC for setting up a green hydrogen and green ammonia hub in Gopalpur, Odisha. The non-banking financial company (NBFC) in the power sector has entered into an agreement with the Avaada Group, pledging Rs 15,000 crore for an upcoming green hydrogen and ammonia facility

Avaada raises funding for green hydrogen projects

Avaada Group has raised $1.07 billion from Brookfield Renewable to support its green hydrogen and green ammonia projects in India. The funding is part of the company’s ongoing plan to raise $1.3 billion. The funding will be made from the Brookfield Global Transition Fund (BGTF). To support its growth and release debt obligations, Avaada will