Since its formation in 2006, Greenko – which is based in Hyderabad – has sought to be a premier clean energy player in India, with a diverse portfolio of scaled renewable energy assets, including run-of-river hydro. GEF’s investment will accelerate the company’s growth objectives as it addresses the massive shortfalls in power supply needs in India in the coming years.
“We are delighted to receive funding from Global Environment Fund which shows confidence in Greenko’s business model and its long-term ambition to be a leading clean energy player in the fast growing Indian economy and energy markets,” said Anil Chalamalasetty, Chief Executive of Greenko. “We believe GEF’s experience in investing in clean energy projects in other emerging economies will be a good value addition to the platform.”
GEF is the only non-public investor and holds two seats on the Board of Directors of the company’s Mauritian subsidiary.
