Greenko Energy raises Rs 5,700 crore from GIC, Orix and founders

Last month, Greenko emerged the lowest bidder for the first green hydrogen manufacturing project by an oil refinery in the country

Hyderabad-based Greenko Energy Holdings has raised $700 million (about Rs 5,700 crore) equity funding from the founders, along with GIC, a wholly owned subsidiary of the Abu Dhabi Investment Authority, and Japanese financial group Orix Corporation. The company said it had signed definitive agreements for a primary equity raise of $700 million, in an official statement issued on Thursday. There was no change in the shareholding structure after this investment, it added.

The company said the investment would be used towards capital expenditure in pumped storage projects, which will have storage capacity of more than 25 Gigawatt hours (GWh). This would