With this investment, the 13-year-old company will have a total $2 billion investment from the two principal sponsors. The publication notes GIC will be 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.
The report states that established in 2006 Greenko is will end fiscal 2019 with 4.8 GW of operational renewable assets across wind, solar, hydroelectric power in 13 states and is expected Ebitda of $500 million.
The founders Mahesh Kolli and Anil Kumar Chalamalasetty own a quarter of Greenko, while ADIA own remaining 15%.