Greenko to sell India’s assets to GIC of Singapore for Rs. 1,600 crore
Hyderabad based renewable energy company Greenko has agreed to sell its India assets to Singapore based sovereign wealth fund company GIC for about 1,600 crore Rupees.
Greenko has signed a non-binding deal with GIC for the sale of the company’s trading activities, assets and all its shares in Greenko Mauritius which also comprise ownership and operation of clean energy projects in India.
It is Hyderabad based market leading owner and operator of clean energy projects which includes wind, hydropower, natural gas and biomass in India.
The company is listed on AIM of London Stock Exchange. Its installed energy generation capacity is 904 MW
The Government of Singapore Investment Corporation (GIC) is established by the Government of Singapore in 1981. It manages Singapore’s foreign reserves and enhances the international purchasing power of the reserves.
It invests internationally in equities, money-market instruments, fixed income, real estate and special investments which is also acknowledged by highest corporate credit ratings by both Standard & Poor’s and Moody’s, of AAA and Aaa respectively.
Categories: Business & Economy Current Affairs 2017