Greenko raises US$155 million in Equity funding

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Greenko raises US$155 million in Equity funding

Greenko Energy Holdings (Greenko), an Indian renewable energy company, has announced the signing of definitive agreements for a primary equity raising of US$155 million from an affiliate of GIC and an entity that is ultimately wholly-owned by the Abu Dhabi Investment Authority (ADIA).

GIC is investing US$123.9 million and the ADIA subsidiary will invest the remaining US$31.1 million. With this transaction, GIC continues to be the majority shareholder of Greenko. The funds will contribute to the continued growth of Greenko’s platform through the development of new renewable energy projects, including recently acquired Solar Projects and low-risk expansions of existing wind farms.

The transaction further demonstrates Greenko’s continued ability to attract long-term infrastructure capital and commitment from the existing shareholders on business. Greenko is a owner and operator of renewable energy assets in India, with operating diversified, high quality utility scale portfolio of over 2,000 MW of wind, solar and small hydro assets. Greenko’s current base of funds, combined with its development and execution capability refined over 10 years since its incorporation, has positioned the platform to be a contributor to the Indian government’s sustainable and clean energy targets over the coming years. Anil Kumar Chalamalasetty, CEO Greenko Group, said:

“With our attractive diversified and de-risked renewable power portfolio operating utilising latest efficient technologies, we will continue to demonstrate our execution capabilities to reach our vision to be the most admired Independent Power Producer that will deliver gigawatts of clean energy at grid parity. We have created a strong and sustainable platform to take advantage of evolving energy market dynamics and strong sector fundamentals accelerated by new government initiatives.”

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