Omers, Norfund in talks to pick up 20% stake in Avaada Energy for $200 million
Canada-based pension fund Omers and Norway government’s private equity arm Norfund are in talks to invest $200 million in Avaada Energy for a 20% stake, pegging the value of the four-year old renewable energy startup at $1 billion, people aware of the matter said.
Talks with the two funds are in an advanced stage though due diligence, which requires site visits, has been delayed due on account of travel restrictions between March and May, the sources said. Omers and Norfund declined to comment when contacted. Avaada Energy declined to comment.
