CleanTech/ Renewable Energy, Finance, Other, Wind

Greenko’s shareholders approve £100 million equity investment by the Government of Singapore Investment Corporation Pte Ltd (“GIC”)

Greenko, the Indian developer, owner and operator of clean energy projects, today announced that at all resolutions put to its Extraordinary General Meeting held today were duly passed.

Today’s EGM provided the necessary shareholder consents for the proposed £100 million equity investment by the Government of Singapore Investment Corporation Pte Ltd (“GIC”) announced on 15   March 2013.

This new equity will be used to accelerate the construction of Greenko’s substantial power portfolio and take advantage of the currently attractive power opportunities in India, through the deployment of utility scale wind farms and Himalayan run-of-river hydro projects.

“We are delighted by the overwhelming support from our shareholders at today’s EGM and their recognition of the value we intend to create through GIC’s investment. This new equity will help continue our generating portfolio’s growth through the addition of larger, high quality wind and hydro projects. GIC is a highly-regarded infrastructure investor and its commitment shows great confidence in Greenko, as well as the Indian power market,” said, Anil Chalamalasetty, Chief Executive of Greenko.

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