Greenko Group Explores Buying Gati's Project

New Delhi, India – Greenko Group is in talks with Gati Infrastructure Pvt Ltd (GIPL) for the acquisition of its 110 megawatt (MW) Chuzachen hydroelectric project in east Sikkim, revealed sources requesting anonymity.

Backed by Singapore’s sovereign wealth fund GIC Holdings Pte and Abu Dhabi Investment Authority, the Hyderabad-based Greenko’s plan to acquire the privately-owned project aligns with its goal of becoming an integrated energy company. It currently has 21 operational hydropower projects with a total installed capacity of 379.8 MW.

According to one of the sources, Greenko has been present in the hydropower sector for a long time. It then ventured into wind and solar and now is looking at the transmission and distribution assets to become an integrated utility.

In 2016, Greenko acquired SunEdison’s Indian assets at a value of $392 million. It currently has over 2.7 gigawatts (GW) of operating capacity with plans to achieve 3GW capacity by December and 5GW capacity by 2019.

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