PRE CLOSE TRADING UPDATE

EMBARGOED UNTIL 07.01 Wednesday 28th March 2012

Greenko Group PLC

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

PRE-CLOSE TRADING UPDATE

Greenko, the Indian developer, owner and operator of clean energy projects, issues the following trading update for the year ending 31 March 2012.

It has been a year of significant progress for Greenko. Following the latest hydro acquisition announced today, it now has a portfolio of 1.67GW, of which 214.6MW are operational and over 450MW are at various stages of construction. The Group's structured entry into the wind sector continues to move ahead, having secured strategic capital commitments from both General Electric and Standard Chartered. Together with bank debt, the Board is confident that the Group now has in place sufficient funds to deliver its target of operating 1,000MW of high yielding assets in 2015.

As previously flagged, Greenko's financial performance in the year ending 31 March 2012 has been impacted by currency movements, a weak market for CERs and a smaller contribution from biomass. For the financial year ending 31 March 2012, electricity generation will be approximately 770GWh and revenue is expected to be in the region of €39 million, with earnings before interest, taxation, depreciation and amortisation anticipated to be around €20 million (excluding development gains). The balance sheet is significantly stronger than a year ago and it now underpins the build-out of approximately 800MW of new generating capacity (including the over 450MW currently under construction), in order to deliver the operational target of 1,000MW in 2015.

Greenko's hydro assets are continuing to perform well. The average Plant Load Factor ("PLF") achieved at the Group's northern hydro assets was 65%, with 37% achieved elsewhere; both good levels bearing in mind the very different hydrology profiles. Greenko's construction plan for current hydro projects under development remains on track, and the 96MW Dickhu plant in Sikkim has now passed key milestones in terms of tunnel and underground powerhouse preparation. In addition, as evidenced by the latest acquisitions in Himachal Pradesh and Karnataka, the Group continues to evaluate additional strategic hydro opportunities.

In wind, the Group's diversified strategy continues to progress, with over 260MW under active construction across three projects with the first project (Ratnagiri) due to be commissioned ahead of the 2012 monsoon season. Overall, the Group expects to commission a minimum of 160MW of wind projects before the 2013 monsoon, as part of the 1,000MW wind portfolio under development. The Group's wind strategy is based on extensive analysis aimed at delivering a reliable long term generation profile, using validated wind data, robust project design and commercial returns. This detailed in-house work led to our partnership with General Electric that provides one of the best low wind speed turbines on the global market, and an execution plan that is highly differentiated from the broader Indian wind energy market that is focused on scale and turnkey solutions.

The Group's 41.5MW of biomass assets improved their performance during the second half of the financial year with an average PLF of over 65% achieved.

Greenko's operating 36.8MW gas project performed in line with expectations while the 58.4MW gas project under development is now targeted for commissioning at the end of 2013 as a result of the well-publicised issues in obtaining gas supplies from the Reliance Krishna Godivari KG D6 field.

The backdrop in India remains positive, as conventional power assets are struggling to supply power to the grid, due to both fuel supply and off-take price issues. The grid parity achievement of the Group's wind and hydro portfolio, coupled with increased demand, means that Greenko is well positioned to provide financially attractive, sustainable long term returns.

Greenko strongly believes that its diversified portfolio of clean energy power projects, both operating and under active development, is an attractive and sustainable class of long term assets for the Indian marketplace. The Board is confident that the Group remains on target to meet its core objective of operating 1,000MW of high yielding assets in 2015.

Anil Chalamalasetty, CEO and MD of Greenko, said: "This year has seen good, profitable progress at Greenko and, against the backdrop of a difficult market, we are financed to meet our 1,000MW operating target by 2015. We feel strongly that both the appropriate infrastructure and the right team are in place to deliver strong growth in the years ahead. The outlook continues to be favourable and our immediate priority is on bringing our development assets online. We see the new financial year to be predominantly about execution although we will continue to evaluate additional opportunities to enhance shareholder value if they meet our financial criteria."

"The Group believes that its diversified portfolio of sustainable assets is the largest in the Indian power market. Its peers in the mainstream market for power that are using fossil fuels are struggling to supply power to the grid, due to either fuel supply or off-take price issues, with 4,000MW of operating assets idle in Andhra Pradesh alone. A combination of Greenko's ability to generate from hydro and wind at grid parity, and the increasing demand for power, ensures that Greenko is well positioned to deliver attractive and sustainable long term shareholder returns."

-Ends-

For further information please visit www.greenkogroup.com or call:

About Greenko

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 Group 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 214.6 MW, split between 136.3 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.