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.
Country updates
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June 18, 2019
Reliance, BP to develop third offshore gas project in India
Reliance Industries Limited (RIL) and BP has announced the sanction of the MJ project (also known as D55) in Block KG D6, off the east coast of India. MJ is the third of three new projects in the Blo...
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June 17, 2019
Edelweiss completes purchase of Indian transmission assets
Sekura Energy Ltd, a company owned by Edelweiss Infrastructure Yield Plus fund, has completed the purchase of two transmission assets owned by Essel Infraprojects - Darbhanga-Motihari Transmission Ltd...
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June 07, 2019
Petronas enters agreement with I Squared Capital for Amplus Energy Solutions sale
Petroliam Nasional Bhd (Petronas) has entered into an agreement with global infrastructure investor I Squared Capital for the acquisition of the 100% interest in Singapore-based Amplus Ener...
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June 05, 2019
Hero Future Energies Global Ltd seeks funds from IFC for 250 MW solar PV project in Rajasthan
Hero Future Global Ltd is seeking a loan of up to US$43.3 million from the International Finance Corporation (IFC) to fund its 250 MW solar photovoltaic park located in Bhadla, Jodhpur district,...
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June 04, 2019
IndiGrid to acquire five Indian transmission assets following KKR investment
India Grid Trust (IndiGrid or the InvIT) has announced the closing of a preference unit issuance worth INR2,514 crores (US$363 million). As part of the transaction, KKR and GIC have invested INR1,084...
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