Renewable energy company Greenko Energy Holdings has signed definitive agreements for a primary equity raising of $495 million from an affiliate of GIC and an entity that is ultimately wholly-owned by the Abu Dhabi Investment Authority (ADIA). Post the investment, GIC will continue to remain the majority shareholder of Greenko. GIC and ADIA have invested $1.55 billion till date in Hyderabad-based Greenko group.
In a statement, Greenko said it has an operational capacity of over 4.2 GW diversified across wind, solar and hydro projects, has secured equity commitment for two storage projects with total capacity of 2.4 GW which is 1.2 GW in Pinnapuram and 1.2 GW in Saundatti in Andhra Pradesh. These projects are expected to be completed and operational in the year 2022. These projects will have overall capital outlay of $2 billion.
