Avaada Energy gets $15 mn funding from French finance institution Proparco
Solar projects developer Avaada Energy on Friday said it has secured $15 million (around Rs 107.55 crore) funding from French development finance institution Proparco.
In April, Avaada received a total investment of over Rs 1,000 crore from Asian Development Bank, DEG, Dutch finance development company FMO and company’s promoter.
“Avaada Energy…has received $15 million in equity investments from Proparco, a French development finance institution for part financing its renewable energy portfolio of the targeted 5 GW capacity,” the company said in a statement.
This clearly establishes the capability and strength of Avaada in executing renewable projects and attracting quality global investors. Avaada will continue to seek investment from quality long-term investors to grow its portfolio which will help the country’s fight against climate change, it said.
