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GIC affiliate to acquire majority interest in Greenko Mauritius

Greenko Energy Holdings, an affiliate of Singapore’s sovereign wealth fund GIC, has 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 (€222.7 million).

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 an 838MW portfolio of biomass, wind, hydropower, and natural gas 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.