Renewable energy firm Greenko Energy Holdings has on Monday announced raising $155m (nearly Rs 1,010 crore) from global investment firm GIC and an arm of Abu Dhabi Investment Authority (ADIA).
In a statement, Greenko said it has signed a definitive agreement with investors wherein GIC is investing $123.9 million, while the balance $31.1 million is being invested by the ADIA’s subsidiary.
Following this fresh investment, GIC continues to be the majority shareholder.
Greenko said it would deploy the equity funds towards continued growth of platform through the development of new renewable energy projects, including recently acquired solar projects and low-risk expansions of existing wind farms.
The company said, “The transaction further demonstrates Greenko’s continued ability to attract long-term infrastructure capital and commitment from the existing shareholders on business.”
Hyderabad headquartered Greenko, a leading owner and operator of renewable energy assets in India, is currently operating a diversified renewable energy portfolio of over 2,000 MW of wind, solar and small hydro assets.
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.”
Further, Chalamalasetty said the company has created a strong and sustainable platform to take advantage of evolving energy market dynamics and strong sector fundamentals accelerated by new government initiatives in India.