GIC considering possible sale of 50% stake in Greenko Energy: Report | Company News
Greenko has 7.5 gigawatts of net installed capacity across wind, solar and hydro power in 15 states in India. | Representative Photo: Bloomberg
GIC Pte is considering options for its 50 per cent stake in India’s Greenko Energy Holdings, including a possible sale that could be worth around $5 billion, people familiar with the matter said.
The Singaporean sovereign wealth fund is in initial discussions with financial advisers to help evaluate a full or partial sale of its holding in Greenko, the people said, asking not to be identified because the matter is private. A deal could value the renewable energy firm at about $10 billion, they said.
Prospective investors include infrastructure-focused funds, sovereign wealth funds and other energy companies, the people said. Considerations are preliminary and GIC may decide not to pursue a sale, the people said.
Greenko, which has other backers including Abu Dhabi Investment Authority, known as ADIA, and Japanese financial group Orix Corp., may also seek to raise funds in the coming months to help its growth, another person said.
A representative for GIC declined to comment. When asked about GIC’s plans, Greenko said the information was incorrect, without elaborating.
First Published: Oct 08 2024 | 7:22 PM IST
Post Comment