25th Nov 2009 09:30
25 November 2009
Greenko Group plc
("Greenko" or "the Company")
Subscription of $46 million by Global Environment Fund
The Board of Greenko is pleased to announce that on 24 November 2009 it completed the Subscription and Shareholder Agreement as announced on 28 September 2009 under which Global Environment Fund, through its fund Global Environment Emerging Markets Fund III, agreed to subscribe $46 million in Greenko Mauritius, a wholly owned subsidiary of the Company. The Company has now received the funds through its subsidiary.
Enquiries:
Greenko Group plc
Mahesh Kolli +91 (0)99 49586332
Anil Chalamalasetty +91 (0)98 49643333
Arden Partners plc
Christopher Hardie +44 (0)20 7398 1630
Adrian Trimmings
Cardew Group
Rupert Pittman +44 (0)20 7930 0777
Jamie Milton
Catherine Maitland
NOTES TO EDITORS
Background
Greenko intends to become a leading owner and operator of clean energy projects in India. Greenko currently has 101.5 MW contracted capacity of clean energy assets including six biomass and three hydro plants and 154 MW of concessions under development. The Company is focused on developing a portfolio of biomass, hydro electric and wind assets within India and intends to increase the installed capacity it operates through a combination of purchasing projects as well as the winning of concessions to develop new greenfield assets.
Related Shares:
GKO.L