GIC, ADIA increase power at Greenko with $550 million cheque
February 21, 2019 (Abu Dhabi)
According to an article in The Economic Times, sovereign wealth funds GIC Holdings Pte Ltd of Singapore and Abu Dhabi Investment Authority (ADIA) of Abu Dhabi are investing $550 million of fresh primary capital in Greenko, India’s largest renewable energy firm.
This will be the third round of capital infusion by the two funds, raising total investment by both principles sponsors to $2 billion in the 13-year-old company. GIC, the largest shareholder with a 60% stake, alone infusing $1.4 billion. With $3.2 billion of debt, Greenko’s enterprise valuation will swell to $5.2 billion
Read the original article on The Economic Times: GIC, ADIA to power Greenko again with $550 million cheque