GIC may invest more in renewable energy company Greenko

Singapore’s GIC could pump more money into Indian renewable energy firm Greenko Energy Holdings, which could help it double or triple its power capacity over the next 3-5 years, a senior GIC official said on Thursday.

“We’re on the verge of committing to another round of injection,” Chief Investment Officer for Infrastructure, GIC, Eng Seng Ang said at a conference.

Greenko operates wind, solar, hydropower, natural gas and biomass power plants with a total capacity of 3.2 gigawatts, according to the company website.

While GIC has been approached by investors who are keen to buy a stake in Greenko, Ang said “we are not in a hurry to sell equity in the company at the moment”.

GIC also invested in geothermal power in Japan and renewables in the Philippines, he said.

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