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Avaada Energy raises Rs 1,000 cr to finance renewable energy projects

Thursday, 11 Apr 2019
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Avaada Energy, the clean energy arm of Avaada Group, has received Rs 1,000 crore investment for financing its 2.4 GW renewable energy portfolio of the targeted five GW capacity.

The equity infusion was split between the Asian Development Bank (ADB), DEG the German Development Finance Institution, Netherlands Development Finance Company FMO and promoters’ equity.

The company is targeting an extensive portfolio of five GW solar energy projects across Asia and Africa over the next two years of which about 2.4 GW capacities are currently under implementation. It has executed more than two GW renewable projects.

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