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

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 ......