China's CNIC ponders buying into India's Greenko - report

The Pavgada solar park in Karnataka, India. Photo by: Greenko (www.greenkogroup.com).

March 31 (Renewables Now) - China’s CNIC Corp is mulling over the possibility of buying a 10% interest in Indian renewable energy company Greenko Group, Bloomberg reports, citing informed people.

One of the sources told the news agency that Greenko has been looking for a long-term investor in order to secure some USD 800 million (EUR 730.5m) to spend on growing its energy storage capacity at home.

Greenko, which counts Singapore’s GIC and the Abu Dhabi Investment Authority (ADIA) as backers, has some 4.8 GW of installed solar, wind, hydro, biomass and gas-based power production capacity, according to its annual report for 2018/19. The plants are located in 13 Indian states.

(USD 1.0 = EUR 0.913)

More stories to explore
Share this story
About the author
Browse all articles from Ivan Shumkov

Ivan is the mergers and acquisitions expert in Renewables Now with a passion for big deals and ambitious capacity plans.

More articles by the author
5 / 5 free articles left this month
Get 5 more for free Sign up for Basic subscription
Get full access Sign up for Premium subscription