Greenko Energy Holdings (Greenko), a renewable energy
company, raised $155 million (~Rs.10.14 billion) in equity funding. The company
signed definitive agreements with an affiliate of GIC and an entity that is
wholly-owned subsidiary of Abu Dhabi Investment Authority (ADIA) to raise the
The GIC is investing $123.9 million (~Rs.8.10 billion) and
the ADIA subsidiary the remaining $31.1 million (~Rs.2.03 billion), according
to Greenko. The funds will be utilized to construct new renewable energy projects,
including recently acquired solar projects and low-risk expansion of existing
reported, that Greenko completed the acquisition of SunEdison’s 587 MW Indian wind and solar
projects for a cash payment of $42 million (~Rs.2.75 billion) and assumption of
project-level debt of $350 million (~Rs.22.9 billion) (at an average interest
rate of 11.3 percent).
Prior to the acquisition of SunEdison India, Greenko raised
$230 million in capital from Abu Dhabi Investment Authority and GIC in June of
2016. Later in October, the company sold a majority stake to GIC for $213.3
million (~Rs.13.95 billion).
to Mercom’s India Solar Project Tracker, Greenko has
304 MW of commissioned solar projects and 1,135 MW of solar projects under development.