Private equity firm Global Environment Fund completes $46.3m investment in Greenko

25 November 2009

Private equity firm Global Environment Fund (GEF) announces the completion of an investment of $46.3m in Greenko in Hyderabad, India.

GEF’s investment will accelerate Greenko’s growth objectives as it addresses the shortfalls in power supply needs in India in the coming years.

Anil Chalamalasetty, chief executive of Greenko, said, ‘We believe GEF’s experience in investing in clean energy projects in other emerging economies will be a good value addition to the platform.’

Jeffrey Leonard, president, CEO and founding partner of GEF, said, ‘Consistent with GEF’s investment strategy, Greenko represents a proven management team that should help meet India’s need for sustainable sources of power in the future.’

Formed in 2006 with a diverse portfolio of scaled renewable energy assets, AIM-listed Greenko is an independent India-focused power producer focused on renewable energy generation through the development, acquisition, construction and operation of run-of-river hydro and biomass-fired plants. Greenko currently has 101.5MW of contracted capacity of clean energy assets, including six biomass and three hydro plants and 154MW of concessions under development.

Global Environment Fund is a Maryland-based private equity firm founded in 1990 investing in clean technology, energy efficiency and timberland in emerging markets. The firm manages over $1bn in private equity investments for institutional investors.

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Tags: energy efficiency

This story was published on Wednesday, November 25th, 2009 at 7:08 pm and is filed under Asia, deals, energy efficiency. You can follow any responses to article entry through the RSS 2.0 feed. You can leave a response, or trackback from your own site.

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