Homegrown Greenko Group has raised $700 million (around Rs 5,700 crore) funding from Singapore’s sovereign wealth fund GIC, Orix Corporation of Japan, Abu Dhabi Investment Authority (Adia) and its own founders.
Anil Chalamalasetty and Mahesh Kolli are the founders of the Hyderabad-based Greenko Group.
The equity funding will be utilised towards the capex of pumped storage projects which will have a storage capacity of more than 25 GWh (gigawatt hour) enabling 45 billion units of carbon-free energy, Kolli, who is the joint managing director of Greenko Group said.
