SINGAPORE – Singapore’s GIC could pump more money into Indian renewable energy firm Greenko Energy Holdings, which could help it double or triple its power capacity over the next 3-5 years, a senior GIC official said on Thursday.
“We’re on the verge of committing to another round of injection,” Chief Investment Officer for Infrastructure, GIC, Eng Seng Ang said at a conference.
Greenko operates wind, solar, hydropower, natural gas and biomass power plants with a total capacity of 3.2 gigawatts, according to the company website.
While GIC has been approached by investors who are keen to buy a stake in Greenko, Ang said “we are not in a hurry to sell equity in the company at the moment”.
GIC also invested in geothermal power in Japan and renewables in the Philippines, he said.