Abu Dhabi Investment Authority (ADIA) and Singapore-based Sovereign Wealth Fund, GIC are carrying out an equity investment of the sum $495 million in Greenko Energy holdings.
The renewable energy company, Greenko Energy will be using the money for two projects with a total capacity of 2.4 GW, at least three news reports, citing Greenkos statement. The two projects will incur $2 Billion expenses and will complete by 2022.
Previously, the renewable energy company had received over $800 million funding from ADIA and GIC. In June 2018, it obtained $447 million as funds.
In 2017, the company received $155 million from ADIA and GIC and in the previous year, it received $230 million.
The company has an operational capacity of 4.2 GW in solar, wind and hydroelectric segments. It is constructing projects with a total capacity of 7 GW, Joint MD of Greenko, Mahesh Kolli told daily news, VC Circle.