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Renewable energy company Greenko Energy Holdings has signed definitive agreements for a primary equity funding of US$495 million from an affiliate of GIC and an entity owned by the Abu Dhabi Investment Authority (ADIA).
Greenko Energy Holdings secured Equity Commitment for two Storage Projects with a total capacity of 2.4 GW: 1.2GW in Pinnapuram, Andhra Pradesh and 1.2GW in Saundatti Karnataka, India.
These projects are expected to be completed and operational in the year 2022 and will have an overall capital outlay of US$2 billion. Greenko has also secured financial closure for the Pinnapuram Storage Project and is in advanced discussions for the Saundatti Project. GIC will remain as the majority shareholder of Greenko.
