Renewable vitality agency Avaada Power, backed by Brookfield’s Power Transition Fund is reportedly making ready for an Preliminary Public Providing (IPO) value ₹4,000 to ₹5,000 crore, geared toward increasing its photo voltaic module manufacturing capability. Although no formal announcement has been made by the corporate, a number of media retailers have cited sources indicating that the IPO may fund a 5 GW built-in photo voltaic cell and module facility in Larger Noida, Uttar Pradesh.
The transfer, if confirmed, would mark a major step in Avaada’s push towards strengthening home manufacturing and supporting India’s clear vitality transition. The corporate has been quickly scaling its renewable vitality presence throughout photo voltaic, wind, and rising segments like inexperienced ammonia.
In 2023, Avaada secured $1.3 billion in funding to assist its growth plans — with $1 billion invested by Brookfield Renewable’s Power Transition Fund and $300 million from Thailand’s International Energy Synergy Public Firm (GPSC). This capital injection is fueling the corporate’s efforts in photo voltaic manufacturing and inexperienced hydrogen ventures.
Avaada has additionally signed main partnerships with state governments in Maharashtra and Madhya Pradesh to implement large-scale renewable vitality initiatives. Moreover, it plans to determine a 1,500 tons/day inexperienced ammonia facility in Odisha, in collaboration with Swiss know-how supplier Casale.
Whereas the corporate has not issued an official affirmation relating to the IPO, the reported transfer is seen as a part of a broader technique to safe capital for long-term sustainable infrastructure improvement.
