Singapore’s GIC SWE Invests in Greenko

greenkoA sovereign wealth enterprise (SWE) of the Government of Singapore Investment Corporation Pte Ltd (GIC) is making a £100 million investment in Greenko Mauritius Ltd, a subsidiary of Greenko Group plc. The £100 million investment will turn into regular Greenko shares between 2015 and 2017. Greenko’s capital infusion will accelerate construction of the firm’s renewable power portfolio in India. Projects include utility scale wind farms and Himalayan run-of-river hydro projects. The GIC’s infrastructure portfolio targets minority equity stakes in power generation, transmission and distribution, water utilities, and also in transport assets such as airports, seaports and highways.

In a press release, Greenko’s chief executive officer, Anil Chalamalasetty stated, “This shows great confidence in Greenko’s business model and its opportunity in the Indian power market. GIC’s infrastructure investment capability will be a great addition to the platform.”

Arden Partners plc and Macquarie Capital Advisers (India) Pvt Ltd were advisers to Greenko for the transaction.

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