GIC, ADIA to invest $550 million of fresh primary capital in Greenko : Report

GIC Holdings Pte Ltd of Singapore and Abu Dhabi Investment Authority (ADIA) are reportedly investing $550 million of fresh primary capital in ’s firm Greenko.

ET citing sources reports that this will be the third round of capital infusion by the two which will make Greenko the biggest recipient of foreign capital in the clean space in .

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 assets across wind, , 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%.