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GRSC Divests 3% Stake in Avaada Energy for $79 Million to Support Expansion Plans

Global Renewable Synergy Company (GRSC), a subsidiary of Thailand’s Global Power Synergy Company (GPSC), has divested a 3% stake in Avaada Energy (AEPL) for Rs666 crore. The stake was acquired by Avaada Ventures, another shareholder in AEPL. This move aligns with GPSC’s strategy to enhance renewable energy operations and improve power management efficiency in India, according to a regulatory filing.

Prior to the transaction, GRSC held 42.93% of Avaada's equity. The share divestment, comprising 4.781 crore shares, is expected to be completed by Q3 2025.

GRSC initially invested in Avaada in 2021 when the company had a committed capacity of 3.7 GW. As of March 2025, Avaada’s total committed renewable energy capacity has grown significantly to 20.6 GW, with an ambitious target of 30 GW by 2030, supported by a Rs1,68,000 crore asset base.

In addition to expanding solar capacity, Avaada is advancing into green hydrogen and ammonia projects. The company recently inaugurated a 1.5 GW solar module factory in Noida and laid the foundation for a 5 GW facility in Greater Noida, alongside securing significant project awards and refinancing deals to support its growth.