Green hydrogen sector: Investment worth USD 2.4 billion planned by Avaada Group
Avaada Group's green energy development arm Avaada Energy is foraying into the green hydrogen and green ammonia sector and is intended to serve both the domestic and international markets.
The group has announced a USD 2.44 billion partnership with the Rural Electrification Corporation (REC) to invest in renewable energy projects across India during the next 5 years, including green hydrogen and its derivatives. Avaada earlier this year closed a USD 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.
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