What is clouding GIC-controlled Greenko’s outlook as it diversifies into new areas?
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What is clouding GIC-controlled Greenko’s outlook as it diversifies into new areas?

By Aman Malik

  • 20 Sep 2023
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What is clouding GIC-controlled Greenko’s outlook as it diversifies into new areas?
Greenko founders Anil Kumar Chalamalasetty (left) and Mahesh Kolli | Credit: Greenko

In March, Hyderabad-based renewable energy company Greenko raised $700 million (around Rs 5,700 crore) via a rights issue from its existing backers—GIC of Singapore, Abu Dhabi Investment Authority and Japan’s ORIX Corp—to fund the capex of pumped hydro storage projects with a capacity of more than 25 GWh.   But the quantum of money raised was not the only reason that made this investment particularly ......

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