Greenko Energy raises $450 million from GIC, ADIA

In one of the largest rounds of funding in the renewable energy segment, GIC Holdings Pte Limited and the Abu Dhabi Investment Authority (ADIA) will invest a combined $450 million (Rs 30 billion) of equity funds in Greenko Energy Holdings. The proceeds of the investment will aid Greenko’s plans of setting up India’s first large integrated clean energy storage project along with generation projects aggregating 10 GW at an estimated cumulative investment of Rs 500 billion. GIC and ADIA hold a 60 per cent and 14 per cent stake, respectively, in Greenko.