SINGAPORE – Greenko Energy Holdings, an affiliate of Singapore’s sovereign wealth fund GIC, announced today (Oct 19) its proposed acquisition of Indian renewable energy company Greenko Group’s majority interest in its Mauritius-based holding firm, Greenko Mauritius, for about £162.8 million (S$350 million).

Mr Stuart Baldwin, Global Head of Infrastructure at GIC said: “As a long-term investor, we are confident of Greenko’s business model. We look forward to working closely with Greenko’s management to develop the company to be the leading owner and operator of clean energy projects in India.”

Greenko is a mainstream participant in the growing Indian renewable energy industry and a market leading owner and operator of clean energy projects in India. It operates a 838MW portfolio of wind, hydropower, natural gas and biomass assets. Greenko intends to increase the installed capacity it operates by winning concessions to develop and build new greenfield assets, as well as making selective acquisitions.