Greenko raises $155 million for capacity expansion

Greenko Energy Holdings, a Hyderabad based clean power company, has managed to raise Rs 155 million from affiliates of GIC and ADIA for its capacity expansion activities.

While GIC is a Singapore Sovereign Wealth Fund, ADIA means Abu Dhabi Investment Authority. The funds worth a little more than Rs 1000 crore has been rasied from the affiliates of the above entities.

According to the company, the GIC, which is the majority shareholder of Greenko, is investing $123.9 million while the ADIA subsidiary will be investing the remaining $31.1 million.

Mahesh Kolli, president and joint managing director of Greenko was quoted as saying by Business Standard: “These funds will help us to achieve the target of 3 giga-watt (3,000 mw) installed capacity by December, 2017 from the current 2.5 gw level.”

Image Credit : images.financialexpress.com

Research Desk

Next Post

Govt gives nod to 101 cold chain projects worth Rs 3,100 crore

Wed Mar 29 , 2017
The Central government has given approval to 101 new cold chain projects being set up by firms like Big Basket, Amul and Haldiram. The total investment will be Rs 3,100 crore. Food Processing Minister Harsimrat Kaur Badal today said the ministry’s grant-in-aid for these projects will be Rs 838 crore, […]
Govt gives nod to 101 cold chain projects worth Rs 3,100 crore

Categories

Blog Stats