Greenko Energy raises $155 million from GIC, Abu Dhabi Investment Authority

Energy News
(Last Updated On: March 28, 2017)

Renewable Energy firm Greenko Energy Holdings has on Monday reported raising $155m (almost Rs 1,010 crore) from worldwide speculation firm GIC and an arm of Abu Dhabi Investment Authority (ADIA).

In an announcement, Greenko said it has consented to a complete arrangement with financial specialists wherein GIC is contributing $123.9 million, while the adjust $31.1 million is being contributed by the ADIA’s backup.

Taking after this crisp speculation, GIC keeps on being the larger part shareholder.

Greenko said it would convey the value reserves towards proceeded with development of stage through the improvement of new renewable vitality ventures, including as of late gained sunlight based activities and generally safe extensions of existing wind ranches.

The organization stated, “The exchange additionally exhibits Greenko’s preceded with capacity to pull in long haul foundation capital and responsibility from the current shareholders on business.”

Hyderabad headquartered Greenko, a main proprietor and administrator of renewable vitality resources in India, is at present working a broadened renewable vitality arrangement of more than 2,000 MW of wind, sun powered and little hydro resources.

Anil Kumar Chalamalasetty, CEO Greenko Group, stated, “With our alluring differentiated and de-gambled renewable power portfolio working using most recent proficient advancements, we will keep on demonstrating our execution abilities to achieve our vision to be the most respected autonomous power maker that will convey gigawatts of clean vitality at lattice equality.”

Chalamalasetty said the organization has made a solid and maintainable stage to exploit advancing vitality showcase progression and solid division basics quickened by new government activities in India.

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