Issue of Equity

THIS ANNOUNCEMENT AND THE INFORMATION CONTAINED HEREIN IS NOT FOR RELEASE, PUBLICATION OR DISTRIBUTION, DIRECTLY OR INDIRECTLY, IN OR INTO THE UNITED STATES OF AMERICA, AUSTRALIA, CANADA OR JAPAN OR ANY JURISDICTION IN WHICH SUCH PUBLICATION OR DISTRIBUTION IS UNLAWFUL.

1 June 2011

Greenko Group plc

("Greenko", the "Company" or the "Group")

Greenko secures additional 650 MW of wind concessions,

extends its partnership with General Electric

 and raises £50 million by way of a Placing

New concessions take wind assets under development beyond 1 GW

Greenko (GKO), a clean energy generator and supplier to the mainstream Indian energy market, announces that it has secured concessions for new wind farms in Andhra Pradesh, Karnataka and Rajasthan. The Group has licences in place to develop wind power projects on the sites. The new concessions, in aggregate, add 650 MW to Greenko's wind portfolio taking its total wind assets in development to 1,015 MW (1 GW).

Taking account of the wind concessions announced above, Greenko's total diversified portfolio of operational assets and assets under development is now 1.63 GW including 183 MW currently operational. It is expected that over 1 GW will be operational by 2014 of which 540 MW will be from wind with the balance predominantly from small and medium hydro projects.

Partnership with GE

In order to support the Group in executing its wind strategy, Greenko has partnered with General Electric ("GE"), one of the world's largest turbine suppliers. The Group today also announces that it has signed a memorandum of understanding for GE to supply, install, erect and maintain XLE 1.6 MW turbines which are designed specifically for Class III wind speeds, which are encountered in India. The turbines, which have higher hubs and a larger rotor diameter, are designed to enable Greenko to achieve a relatively low cost per kWh and enhance generation potential.

Placing

Greenko also announces that it has conditionally raised gross proceeds of £50 million through a placing (the "Placing") of 22,222,223 new ordinary shares of EUR 0.005 each in the Company (the "Placing Shares") by way of a placing with new and existing investors by Arden Partners plc ("Arden Partners") and Mirabaud Securities LLP ("Mirabaud"). The placing price of 225 pence per share (the "Placing Price") is at a discount of approximately 4 per cent. to the closing middle market price of 235 pence of an ordinary share (as derived from the Daily Official List of the London Stock Exchange) on 31 May 2011, the latest practicable date prior to the publication of this announcement.

The Company and ACMK Enterprises Limited ("ACMK"), a company controlled by the Executive Directors of the Company, will enter into a conditional subscription agreement pursuant to which ACMK will agree to subscribe, and the Company can require it to subscribe, for 2,222,222 new ordinary shares of €0.005 at the Placing Price (the "Subscription Shares"), such subscription to be completed by not later than the first anniversary of Admission (the "Subscription"). The Executive Directors will also be party to the agreement for the purpose of guaranteeing ACMK's obligations under the agreement. The agreement will be conditional, amongst other things, on the Placing becoming unconditional in all respects.

The Placing and the Subscription are conditional, amongst other things, on shareholder consent and the admission of the Placing Shares to trading on AIM ("Admission"). A circular will be sent to shareholders convening an extraordinary general meeting of the Company (the" Extraordinary General Meeting") for 27 June 2011 at 12 noon at 4th Floor, 14 Athol Street, Douglas, Isle of Man IM1 1JA at which resolutions will be proposed to:

(a) increase the authorised share capital of the Company; and

(b) provide the authority to the directors of the Company to allot the Placing Shares and, in due course, the Subscription Shares and to disapply pre-emption rights in connection with the allotment of the Placing Shares and, in due course, the Subscription Shares.

It is expected that Admission will occur, and dealings in the Placing Shares will begin, at 8.00 a.m. on 28 June 2011.

The Placing Shares represent approximately 15.7 per cent. of the enlarged issued ordinary share capital of the Company. The Placing Shares will, when issued, rank pari passu in all respects with the existing issued ordinary shares of the Company, including the right to receive any dividends and other distributions declared after Admission. Following the Placing, the Company will have 141,640,460 ordinary shares in issue and, following completion of the Subscription, the Company will have 143,862,682 ordinary shares in issue (assuming no other new ordinary shares have been allotted in the meantime).

Greenko has made significant progress in developing its wind pipeline and as an asset class it now represents more than 60 per cent of the overall portfolio. The Company will bring its wind assets within one wholly owned subsidiary in order that future funding may also be secured at the subsidiary level. The Group has received expressions of interest from a range of potential financial partners at the subsidiary level and will continue to consider opportunities as they arise, in order that its cost of capital remains competitive.

Current Trading

Further to the announcement of 14 April 2011, the Company confirms that the financial results for the year ended 31 March 2011 are expected to be in line with market expectations. Trading at Greenko's existing operations in the early part of the new financial year continues to be on track and power generation is proceeding satisfactorily.

Commenting on the developments, Anil Chalamalasetty, CEO said:

"Demand for power in India outstrips supply and we believe the energy deficit will become increasingly pronounced in the years ahead. India does not have a wealth of natural resources to rely on which has created an opening for clean energy generators to take up a mainstream role in the energy supply industry. I am delighted to say Greenko is doing exactly that.

"There is real momentum about our progress and I am pleased to report that we have secured these new concessions. Whilst hydro was the cornerstone of our business in the early days, we are now building a balanced portfolio which spreads risk geographically and across technologies.

He added, "I am very pleased that existing shareholders as well as new investors are backing our vision for growth by supporting this fundraising. We will now put these funds to work by building upon our low fuel risk portfolio of assets to create a business with sustainable, reliable and superior shareholder returns."

For further information please contact:

Greenko Group plc

Anil Chalamalasetty +91 (0)98 4964 3333

Mahesh Kolli +91 (0)99 4958 6332

together the "Executive Directors"

Tim Bowen, Investors Relations +44 (0) 7973 668818

Arden Partners plc (Nomad and broker)

Richard Day +44 (0)20 7614 5900

Adrian Trimmings

Mirabaud Securities LLP

Peter Krens +44 (0)20 7878 3362

Tavistock Communications

Matt Ridsdale +44 (0)20 7920 3150

Chris Munden

This announcement has been issued by, and is the sole responsibility of Greenko.

This announcement is for information purposes only and does not constitute an offer to sell or an invitation to subscribe for or a solicitation of an offer to buy or subscribe for any securities in any jurisdiction including in which such an offer or solicitation is unlawful and is not for distribution in or into, without limitation the United States, Canada, Australia or Japan (the "Excluded Territories"), or to US persons (within the meaning of Regulation S of the United States Securities Act 1933 (as amended) (the "Securities Act").

Neither the Placing Shares nor the Subscription Shares have been and nor will they be registered under the Securities Act or under the applicable securities laws of any state in the United States or any other Excluded Territory and, unless an exemption under such act or laws is available may not be offered for sale or subscription or sold or subscribed directly or indirectly within the Excluded Territories or for the account or benefit of any national, resident or citizen of the Excluded Territories. No public offering of securities will be made in the United States.

The distribution of this announcement in any other jurisdictions may be restricted by law and therefore persons into whose possession this announcement comes should inform themselves about and observe any such restrictions. Any failure to comply with these restrictions may constitute a violation of the securities laws of such jurisdictions.

Arden Partners, which is authorised and regulated in the United Kingdom by the Financial Services Authority, is acting exclusively for Greenko and for no one else in connection with the Placing and will not be responsible to anyone other than Greenko for providing the protections afforded to clients of Arden Partners nor for providing advice in relation to the Placing or any other matters referred to in this announcement.

Mirabaud Securities, which is authorised and regulated in the United Kingdom by the Financial Services Authority, is acting exclusively for Greenko and for no one else in connection with this announcement and will not be responsible to anyone other than Greenko for providing the protections afforded to clients of Mirabaud Securities nor for providing advice in relation to this announcement or any other matters referred to in this announcement.

The contents of this announcement are not to be construed as legal, financial or tax advice. If necessary, each recipient of this announcement should consult his, her or its own legal adviser, financial adviser or tax adviser for legal, financial or tax advice.

This announcement contains certain statements that are or may be "forward-looking statements". These statements typically contain words such as "intends", "expects", "anticipates", "estimates" and words of similar import. All the statements other than statements of historical facts included in this announcement, including, without limitation, those regarding Greenko's financial position, business strategy, plans and objectives of management for future operations (including development plans and objectives relating to Greenko's products and services) are forward-looking statements. By their nature, forward-looking statements involve risk and uncertainty because they relate to events and depend on circumstances that will occur in the future and therefore undue reliance should not be placed on such forward-looking statements. There are a number of factors that could cause the actual results, performance or achievements of Greenko or those markets and economies in which it operates to be materially different from future results, performance or achievements expressed or implied by such forward-looking statements. Such forward-looking statements are based on numerous assumptions regarding Greenko's present and future business strategies and the environment in which Greenko will operate in the future and such assumptions may or may not prove to be correct. Forward-looking statements speak only as at the date they are made. Neither Greenko, Arden Partners, Mirabaud nor any other person undertakes any obligation (other than, in the case of Greenko, pursuant to the AIM Rules) to update publicly any of the information contained in this announcement, including any forward-looking statements, in the light of new information, change in circumstances or future events.

Any indication in this Announcement of the price at which ordinary shares of the Company have been bought or sold in the past cannot be relied upon as a guide to future performance. No statement in this Announcement is intended to be a profit forecast and no statement in this Announcement should be interpreted to mean that earnings per share of the Company for the current or future financial years would necessarily match or exceed the historical published earnings per share of the Company.

This Announcement does not constitute a recommendation regarding the Placing. The price of shares and the income from them may go down as well as up and investors may not get back the full amount invested on disposal of the shares.

Neither the Placing Shares nor the Subscription Shares will be admitted to trading on any stock exchange other than the AIM Market of the London Stock Exchange plc.

MEMBERS OF THE PUBLIC ARE NOT ELIGIBLE TO TAKE PART IN THE PLACING. THIS ANNOUNCEMENT IS FOR INFORMATION PURPOSES ONLY AND IS DIRECTED ONLY AT: (A) PERSONS WHO ARE QUALIFIED INVESTORS AS DEFINED IN SECTION 86(7) OF THE FINANCIAL SERVICES AND MARKETS ACT 2000, AS AMENDED, BEING PERSONS FALLING WITHIN THE MEANING OF ARTICLE 2(1)(E) OF THE EU PROSPECTUS DIRECTIVE (WHICH MEANS DIRECTIVE 2003/71/EC AND INCLUDES ANY RELEVANT IMPLEMENTING DIRECTIVE MEASURE IN ANY MEMBER STATE) (THE "PROSPECTUS DIRECTIVE"); AND (B) IN THE UNITED KINGDOM, QUALIFIED INVESTORS WHO ARE PERSONS WHO (I) HAVE PROFESSIONAL EXPERIENCE IN MATTERS RELATING TO INVESTMENTS FALLING WITHIN ARTICLE 19(5) OF THE FINANCIAL SERVICES AND MARKETS ACT 2000 (FINANCIAL PROMOTION) ORDER 2005 (THE "ORDER"); (II) ARE PERSONS FALLING WITHIN ARTICLE 49(2)(A) TO (D) ("HIGH NET WORTH COMPANIES, UNINCORPORATED ASSOCIATIONS, ETC") OF THE ORDER; OR (III) ARE PERSONS TO WHOM IT MAY OTHERWISE BE LAWFULLY COMMUNICATED (ALL SUCH PERSONS TOGETHER BEING REFERRED TO AS "RELEVANT PERSONS"). THIS ANNOUNCEMENT MUST NOT BE ACTED ON OR RELIED ON BY PERSONS WHO ARE NOT RELEVANT PERSONS. PERSONS DISTRIBUTING THIS ANNOUNCEMENT MUST SATISFY THEMSELVES THAT IT IS LAWFUL TO DO SO. ANY INVESTMENT OR INVESTMENT ACTIVITY TO WHICH THIS ANNOUNCEMENT RELATES IS AVAILABLE ONLY TO RELEVANT PERSONS AND WILL BE ENGAGED IN ONLY WITH RELEVANT PERSONS. THIS ANNOUNCEMENT DOES NOT ITSELF CONSTITUTE AN OFFER FOR THE SALE OR SUBSCRIPTION OF ANY SECURITIES IN THE COMPANY.

Notes to editors

Greenko is a mainstream participant in the growing Indian energy industry and a market leading owner and operator of clean energy projects in India. The Company is building a de-risked portfolio of wind, hydro electric, natural gas and biomass assets within India and intends to increase the installed capacity it operates by winning concessions to develop new greenfield assets as well as making selective acquisitions which enhance shareholder value.

Greenko's portfolio is carefully planned and managed to ensure it offers investors diversification geographically and spreads risks across a number of projects which utilise varied environmental technologies. The Company's goal is to reach 1 GW of operational capacity by 2015. Current operational capacity is 182.6 MW, split between 104.3 MW of hydro, 41.5 MW of biomass and 36.8 MW of gas/liquid fuel. Greenko's portfolio, which includes projects in the development pipeline, currently stands at 1.63 GW.

With a core belief in sustainability both operationally and environmentally, Greenko endeavours to be a responsible business playing an important role in the community beyond its role in the power generation industry. The Company maintains a continuous involvement in localised projects and community programmes which centre on education, health and wellbeing, environmental stewardship and improving rural infrastructure.

Greenko Group plc was admitted to trading on the AIM market of the London Stock Exchange (LSE: GKO) in November 2007.