Exercise of Long Term Incentive Plan Option Award

Greenko Group PLC

("Greenko" or "the Group")

Exercise of Long Term Incentive Plan Option Award

Greenko Group PLC, one of India's fastest growing independent power producers, today announced the exercise of options over 6,798,924 new ordinary shares in the Company by ACMK Enterprise Limited ("ACMK"), a company wholly owned by Greenko's executive directors Anil Chalamalasetty and Mahesh Kohli. These shares represent 4.5% of the current, enlarged issued share capital of the Group.

Greenko announced in April 2008 the implementation of a long term management incentive plan ("LTIP"), under which ACMK was granted options over 6,798,924 new ordinary shares. At that time, these shares represented 10% of the issued share capital in the Company, which has since been significantly enlarged by fund raisings.

The LTIP was modified & adopted in April 2010 in accordance with statements made in Greenko's Admission Document dated 31st October 2007. When the LTIP was adopted, Greenko had 41.5MW of operating capacity, plus 49MW under construction and a development pipeline of 102MW. Since then, the operating capacity has grown to 215MW, with over 450MW under construction, plus a secured development pipeline of approximately 1,000 MW and supported by a wind turbine framework agreement with GE. Greenko's Remuneration Committee has carefully considered the matter and is satisfied that the various performance targets in respect of the option shares have all been achieved. As such, ACMK has been granted the full number of Greenko shares it was allocated under the 2008 LTIP plan. The subscription price for each new ordinary share is the nominal value, being €0.005 per share.

Following the exercise of these options, ACMK now owns 19,420,924 ordinary shares in Greenko, representing 13.1% of the current, enlarged issued share capital.

Separately, as part of the £50 million equity fundraising announced in June 2011, ACMK will be investing £5 million into new ordinary shares at 225 pence per share, on or before the 28th June 2012. Post investment, ACMK will then own a total of 21,643,146 ordinary shares, representing 14.4% of the then enlarged issued share capital.

In addition, ACMK has a further 5,100,000 options under LTIP Scheme 2010 which are part way through the vesting period of three years from March 2011. These options are subject to a target of 500MW of operational capacity being achieved at a suitable level of profitability and vest only once the share price reaches certain price hurdles at the end of the vesting period. At 270p, 50% of the award will vest, at 300p 75% will vest and the balance vests at 330p, measured as the 30 day average closing market price at the end of the vesting period. The subscription price for each new ordinary share is 170p per share.

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