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)