Greenko Energy raises Rs 1,010 crore from GIC, Abu Dhabi Investment Authority to power growth
Greenko Energy Holdings raised $155 million (Rs 1,010 crore) from existing investors Singapore’s sovereign wealth fund GIC and Abu Dhabi Investment Authority (ADIA) in one of the largest fund-raising exercises in the renewable energy sector. The funds will be deployed to help Greenko expand its clean energy portfolio to 3 gigawatts from 2GW. Hyderabadbased Greenko said it has signed a definitive agreement that will see GIC invest $123.9 million and an ADIA subsidiary invest $31.1million in a release on Monday. Greenko last year got $230 million in new funds from an entity owned by ADIA and an affiliate of GIC Singapore at a $1 billion valuation. ADIA invested $150 million while $80 million came from GIC. GIC remains the majority shareholder.....