Canadian investor Brookfield is in advanced discussions to invest up to $1bn through multiple tranches in Avaada Ventures, parent entity of Avaada Group.
The infusion will fund the group’s solar cell/module manufacturing and green ammonia plans, as well as its renewable energy generation capacity, said three people aware of the development. A first tranche of $400-500m will be announced in the coming weeks, they said.
According to its website, Avaada Group, which was founded in 2009, plans to generate 30 GW of installed renewable energy capacity, with a $20 billion asset base by 2030.
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Brookfield Corporation is focused on deploying its capital on a value basis and compounding it over the long term.
This capital is allocated across its three core pillars of asset management, insurance solutions and its operating businesses.
Employing a disciplined investment approach, Brookfield leverage a deep expertise as an owner and operator of real assets, as well as the scale and flexibility of capital, to create value and deliver strong risk-adjusted returns across market cycles.
With significant capital underpinned by a conservatively capitalized balance sheet, Brookfield Corporation is well positioned to pursue significant opportunities for growth.
Source: Economic Times India
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