9th Oct 2014 08:00
LONDON (Alliance News) - Greenko Group PLC Thursday said its subsidiary, Greenko Mauritius, has secured a USD125 million investment from EIG Global Energy Partners, funds it said it will use to refinance a loan facility and support the development of renewable power projects in its portfolio.
The Indian developer, owner and operator of clean energy projects, said the proceeds will be used to refinance the its Standard Chartered facility of USD70 Million, due in January 2015, and support the development of renewable power projects in its developmental portfolio of 2.2 gigawatts, which is dominated by hydro and wind assets.
"We are delighted to partner with EIG Energy Global Partners. With over 1 gigawatt capacity expected in 2015 supported by our continuous efforts to reduce the cost of debt with the recent Bond Issue and this investment, Greenko is well placed for enhanced shareholder returns,2 said Chief Executive officer Anil Chalamalasetty in a statement.
Greenko shares were trading 3.1% higher Thursday morning at 168.60 pence.
By Rowena Harris-Doughty; [email protected]; @rharrisdoughty
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