Greenko to Invest 350 Million Euros in Indian Hydro and Wind

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Bloomberg Businessweek

Greenko Group Plc (GKO), an Indian clean-energy developer, plans to invest 350 million euros ($463 million) this fiscal year in onshore wind and hydropower plants in India as it targets 1,000 megawatts of capacity by 2015.

The company, which has 806 megawatts of projects operating or under construction, wants to bring online 250 megawatts of new wind power capacity this year, Mark Thompson, director of corporate finance for Hyderabad-based Greenko, said by phone. It expects to invest about 350 million euros this year and “roughly” the same next year.

India, the world’s third-largest market for wind turbines, had 18,552 megawatts of installed wind capacity as of January 2013, according to the Global Wind Energy Association. At the end of last year renewable energy accounted for about 6 percent of its electricity generation.