Greenko eyes revenues of EUR 330m by 2015 - report

Dec 18, 2012 - Indian green energy firm Greenko Group Plc (LON:GKO) expects to generate annual revenues of EUR 330 million (USD 435m) by 2015 after developing and acquiring 1,000 MW wind and hydropower projects, a company official told Bloomberg.

Greenko plans to acquire some 540 MW of wind and 450 MW of hydropower capacity along with biomass and gas assets, Mark Thompson, director in charge of corporate affairs, told Bloomberg in an interview. Greenko already has in mind quite a few potential asset acquisitions in India, the head said.

Currently, the Indian clean energy developer is constructing 190 MW of hydropower facilities and 350 MW of wind parks and has enough resources to boost its capacity to 1000 MW by 2015, Thompson was quoted as saying.

Last week Greenko posted a 121.2% year-on-year surge in adjusted profit after tax to EUR 4.2 million for its first fiscal half to September as growth in earnings before interest, tax, depreciation and amortisation (EBITDA) outpaced associated rises in depreciation and net finance charges. Revenue climbed to EUR 23.7 million from EUR 19.8 million.

(EUR 1.0 = USD 1.318)

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