GIC invests US$80m in Indian renewable energy firm Greenko

With this transaction, GIC continues to be the majority shareholder of Greenko.
With this transaction, GIC continues to be the majority shareholder of Greenko.PHOTO: ST FILE

SINGAPORE (REUTERS) - Greenko Energy Holdings, one of India's leading renewable energy companies, said on Tuesday (June 7) that it is raising US$230 million (S$311.9 million) in equity from an affiliate of Singapore sovereign wealth fund GIC and an entity owned by the Abu Dhabi Investment Authority (ADIA).

GIC invested its share of US$80 million in March and the ADIA entity will invest the remaining US$150 million, the company said in a statement.

With this transaction, GIC continues to be the majority shareholder of Greenko. GIC did not disclose its stake size.

The funds will contribute to the continued growth of Greenko's business through the development of new renewable energy projects, including low-risk expansions of existing wind farms, it said.