AVAADA VENTURES
Brookfield targets USD 10 billion investments in renewable sector
Canada’s Brookfield Asset Management plans to triple its investments in India’s renewable energy sector to over $10 billion within the next three to four years. The firm is also exploring opportunities in electric vehicles and green hydrogen. With a current portfolio of over 25 GW, Brookfield is the second-largest investor in India’s green energy assets. Through its new Catalytic Transition Fund, Brookfield aims to further its commitment to clean energy and transition projects in emerging economies, including India.
India offers $500 billion investment opportunity in clean energy: Commerce secretary
India's commerce secretary Sunil Barthwal announced at the Indo-Pacific Economic Framework for Prosperity (IPEF) Clean Economy Investor Forum in Singapore that India presents an investment opportunity exceeding $500 billion in the clean energy sector, including renewables, green hydrogen, and electric vehicles by 2030. The forum, consisting of 14 countries like India, Australia, and the US, has identified investment prospects totaling $23 billion for sustainable infrastructure projects in the Indo-Pacific region.
India offers above $500 bln investment opportunity in clean energy value chain
India offers a $500 billion investment opportunity in clean energy by 2030 at the IPEF Clean Economy Investor Forum in Singapore, resulting in $23 billion investment opportunities for sustainable infrastructure projects in the Indo-Pacific.
India offers USD 500 billion investment opportunities in clean energy, other sectors by 2030
New Delhi India offers huge investment opportunities worth over USD 500 billion, particularly in clean energy value chain including renewables, green hydrogen and EV, by 2030, the commerce ministry said on Thursday. This was stated by Commerce Secretary Sunil Barthwal, who is in Singapore for the two-day meet of the Indo-Pacific Economic Framework for Prosperity (IPEF) Clean Economy Investor Forum.
Green companies want solar module PLI deadline extended
Another official added that the companies had sought a timeline extension of at least one year. "MNRE has asked the companies to submit a request. We have done that. We have also requested that the bank guarantees not be encashed and any penalties not be levied," he said.
ACME looks to sell 35% stake to raise Rs 3,000 crore
ACME, established in 2003 by Manoj Kumar Upadhyay, is the largest solar independent power producer in India with a diversified portfolio of 5.5 GW spread across 12 states and with a mix of central and state utilities. Its portfolio of operational solar power projects has grown to 2.9 GW from 15 MW in 2011. The rest of the 2.6 GW is under different phases of development.
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Brookfield looking to sell 1.6 GW clean energy India assets
Currently, Brookfield has about 20 GW of wind and solar assets in operation or in the development pipeline across India. Investment bank JP Morgan has been hired to run the process, said people aware of the matter.
RIL Unit, Greenko JV among 8 chosen for electrolyser incentive scheme
Several companies, including Ohmium Operations, Reliance Electrolyser Manufacturing, Greenko, Jindal India, Advait Infratech, Larsen & Toubro (L&T) unit, and Homihydrogen, have emerged as winners in the first phase of the Indian government's ₹4,440-crore electrolyser incentive scheme. The scheme saw interest from 21 companies, and the results of the financial bids are subject to revision
Inflows from private equity, venture capital funds to domestic companies plunge to $27.9 billion in 2023
Private equity and venture capital investments in Indian companies declined about 40% to $27.9 billion in 2023, compared to $47.62 billion in 2022, according to data from Venture Intelligence and the Indian Private Equity and Venture Capitalist Association. The year also saw an increase in outflows to $19.34 billion from $18.45 billion in 2022. However, industry watchers expect a rebound in funding next year.
Green H2 production: RIL Unit, BPCL & 12 others submit bids
The technical bids for incentives under the Strategic Interventions for Green Hydrogen Transition (SIGHT) scheme were opened on Friday while the last day of submission was December 12. "The financial bids have not been opened yet and will likely take some time for evaluation," a government official said. GH4India is a joint venture of Indian Oil Corporation, Larsen & Toubro and ReNew.
Brookfield to invest $845 mn in new renewable JV with Axis Energy Ventures
Brookfield, through the Brookfield Global Transition FundII (BGTF II), has committed to provide equity capital of up to $845 million (Rs7280 crore) towards the development and construction of the power projects, stated a press release. Axis Energy Ventures will contribute their existing development pipeline of wind and solar power projects which are spread across the country and at various stages of development.
AVAADA Group, Tata Steel Special Economic Zone to set up green hydrogen, ammonia unit in Odisha
In a statement, AVAADA Group announced "an initiative to establish a cutting-edge green hydrogen and ammonia manufacturing unit in Odisha. This significant move comes in the wake of a Memorandum of Understanding (MoU) inked with Tata Steel Special Economic Zone Limited (TSSEZL)".
Avaada secures $2.44 billion from REC for energy transition projects
Avaada will utilize the REC investment to spearhead its renewable energy projects across India in the next few years. These ventures include green hydrogen and its derivatives, solar photovoltaic (PV) manufacturing, and an assortment of solar, wind, and hybrid projects.
PE inflows plunge 61% to $6.1 bn in Jan-Jun; lowest since 2020
Despite the funding winter in the space, startups continued to attract the largest share of private equity capital, which in absolute terms was a steep 69 per cent decline year-on-year.
Thailand’s state utility PTT’s arm invests $233 million in Avaada Energy
As part of this round, Mittal’s holding company Avaada Ventures Pvt Ltd on 27 April announced that it has raised $1 billion from Canadian investor Brookfield through its Brookfield Global Transition Fund. The proceeds from Brookfield will be used to fund the group’s green hydrogen and green ammonia ventures.
CleanMax raises $360 million from Brookfield
CleanMax Enviro Energy Solutions Pvt. Ltd, a Mumbai based renewable energy company, on Thursday said that it has raised $360 million from Brookfield Renewable, through the Brookfield Global Transition Fund. The funding is a mix of primary and secondary capital and will enable CleanMax to grow its platform to over 5 gigawatts (GW) over the next three to four years.
Avaada raises $1 billion from Brookfield fund for its India green ventures
Brookfield Renewable, through its Brookfield Global Transition Fund (BGTF) will be investing up to $ 1 billion in Avaada Ventures Private Limited. ET first reported on 10 April that Brookfield has signed a deal to invest up to $1 billion in Avaada, and that the investor has disbursed the first tranche of $400 million.
Brookfield expands green footprint, buys 51% stake in CleanMax Enviro
The investment will largely be a secondary sale of shares by existing shareholders with a small tranche of primary infusion into the company.
Brookfield investing $1 billion in Avaada
Canadian investor Brookfield has agreed to invest $1bn in Avaada Ventures to support green ammonia plans and scale up renewable energy, in what would be the largest investment by a clean energy company in one go. Vineet Mittal, founder of the Avaada group, signed a formal agreement with Brookfield, with the first tranche of $400m already disbursed. The remaining $600m will be disbursed based on performance-linked milestones.
Brookfield in talks to acquire CleanMax Solar
Investment bank Rothschild is advising CleanMax on the fundraise, one source said. "The funds, largely primary equity infusion into the company, will be used to expand its business in India as well as south east Asia and Gulf countries and to retire some debt," he added.
Brookfield looks to put $1 billion in Avaada
The group was founded by entrepreneur Vineet Mittal in 2017. Avaada Group has built a portfolio of over 4 GW of renewable (solar and wind) energy under flagship Avaada Energy Pvt Ltd.
Odisha approves 9 investment projects worth Rs 1.53 lakh crore
According to officials, the proposal of ArcelorMittal to set up a 7 million tonne per annum (MTPA) steel plant in Jagatsinghpur district of Odisha has been approved today. This project is expected to churn employment opportunities for 11,000 people.
Thailand's PTT eyes ReNew Power's solar assets, again
Enterprise valuation of portfolio could touch $1.75 bn. Due diligence ongoing. State-owned PTT, Thailand's largest conglomerate is already an investor in Avaada Energy
KKR ties up with Sterlite Power to create new clean energy platform Serentica Renewables
KKR to invest $400 mn in Serentica Renewables, $100 mn from Sterlite Group cos. Platform will aim at industrial decarbonisation efforts. Formal announcement later today. Serentica will be looking to deliver round-the-clock clean for large-scale, energy-intensive industrial customers like steel, auto, manufacturing. In India this segment consumes 70 GW of energy, predominantly coal and gas.
The long war in Ukraine could accelerate India’s stride towards green energy
Today, the national transporter consumes about 2 billion litres of diesel annually (2021-22). But if GoI has its way, by 2030, it will be run entirely on electric power, that too, renewable energy. The railways’ target is to build an installed capacity of 30 gigawatts (GW) of renewable energy in the next eight years, reducing the yearly consumption of diesel to 0.2 billion litres.
Stocks in the news: PVR, Airtel, DLF, INOX Leisure, Voda Idea and Vedanta
Leading film exhibition players PVR and INOX Leisure announced a merger deal to create the largest multiplex chain in the country with a network of more than 1,500 screens.
Stocks in the news: Airtel, NTPC, Raymond, L&T and Tata Power
L&T Construction, the construction infrastructure arm of L&T, has won a significant order from Delhi Metro Rail Corporation to design and construct the underground metro project of Phase-IV of Delhi MRTS.
Stocks in the news: DLF, Vodafone Idea, Dish TV, Biocon, BPCL and PNB
Vodafone Idea said that it has started using 3G spectrum for 4G services in Mumbai and claimed that customers in the metro city will get higher data speed with the refarming of spectrum.
Entrepreneur Vineet Mittal gets Rs 1 k cr for Solar Venture
An alumnus of Harvard Business School, Mittal has also successfully executed 2 GW of renewable energy projects in Welspun.
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