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Greenko raises $155 million in equity funding

GIC is investing USD 123.9 million and the ADIA subsidiary the remaining USD 31.1 million, a company release said here.

March 28, 2017 / 08:34 AM IST

Clean energy player Greenko announced raising USD 155 million in equity funding from an affiliate of GIC and an entity wholly-owned by the Abu Dhabi Investment Authority (ADIA).

GIC is investing USD 123.9 million and the ADIA subsidiary the remaining USD 31.1 million, a company release said here.

Definitive agreements have been signed with them in this regard, it added.

With this transaction, GIC continues to be the majority shareholder of the city-based renewable energy company.

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, it said.

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The transaction demonstrates Greenko's continued ability to attract long-term infrastructure capital and commitment from the existing shareholders on business, the release said.

Greenko is a owner and operator of renewable energy assets in India. The company has a utility scale portfolio of over 2,000 MW of wind, solar and small hydro assets.

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