At present, Greenko has an operational capacity of 4.2 GW in the country and another 7 GW is under construction. The company is planning to increase its capacity further through development of greenfield assets.
“These( storage) projects will have overall capital outlay of $2 billion. Greenko has also secured financial closure for the Pinnapuram Storage Project and are in advanced discussions for the Saundatti Project,” Greenko further added in its statement.
In June 2018, GIC and ADIA invested $450 million in the company. “As a long-term investor, we are very pleased to be supporting Greenko’s next phase of growth, which will enhance clean energy offerings and benefit communities in India in the long run,” said Ang Eng Seng, chief investment officer of Infrastructure at GIC.
Greenko intends to increase the installed capacity by developing and building new greenfield assets, as well as, making selective acquisitions which enhance shareholder value. Greenko has achieved 4.2 GW of operational portfolio and over 7 GW under construction capacity and is well funded to grow into a multi gigawatt portfolio over the next few years.