Avaada Ventures secures $1.07 billion funding for expansion plans

Green energy and fuels company Avaada Ventures has secured funding worth $1.07 billion, led by marquee private equity player Brookfield, which will make an equity investment of $1 billion. The sand-to-molecule company plans to use the funds for new projects in green hydrogen, green ammonia, and solar equipment manufacturing.

Avaada’s existing shareholder Global Power Synergy Public Company (GPSPCL), an electricity and utility flagship of PTT group, will pump in $68 million into Avaada Energy, an independent renewable energy project developer with 4 Gigawatt (Gw) of operating assets and 7 Gw of projects under construction.